For years, the NYSE has facilitated capital formation, serving a wide spectrum of participants, including individual and institutional investors, the trading community and listed companies.

During , on an average trading day, approximately 1. The NYSE market combines both auction-based and electronic trading capabilities. This aspect of Regulation NMS protects and applies only to quotes available for immediate execution. We believe that the interaction of our automatic and auction markets also maintains opportunities for price improvement, while providing all investors, regardless of their size, with the best price when buying or selling shares.

By continuing to maintain market quality, including low intra-day volatility, the NYSE market also allows issuers to reduce their cost of capital. In the NYSE market, specialists and brokers use judgment to improve prices and enhance order competition on the floor of the NYSE, while interacting with the market electronically as well as manually. We believe that their judgment is particularly valuable in less liquid stocks and during the opening and closing of trading, as well as during times of uncertainty, for example, when a corporate announcement or an outside event could lead to market instability and price volatility.

We believe that our trading systems and software offers customers greater choice while maintaining market quality.

AbleTrend Trading Software - AbleSys

Table of Contents sub-second speed. The NYSE, which transparently integrates automatic execution with floor broker and specialist interest, has resulted in narrower quoted spreads and improved fill rates. To maintain our leadership position, we intend to continue to develop our market model in response to emerging trends in the trading environment and technological advancements. We are in the process of a global technology initiative that involves several upgrades to our current architecture, using technologies acquired through strategic initiatives and external growth initiatives.

NYSE Arca operates an open, all-electronic stock exchange for trading NYSE, Amex and other exchange-listed equity securities, Nasdaq-listed equity securities as well as exchange-listed equity options, and has one of the leading positions in the trading of OTC and exchange-listed securities and ETFs. Through NYSE Arca, customers can trade approximately 8, equity securities and over , option products.

During , approximately 8. Table of Contents This excerpt taken from the NYX K filed May 1, The NYSE Trading System. This aspect of Regulation NMS will protect and apply only to quotes available for immediate execution. Limit orders are published in real time.

This structure facilitates the ability of brokers and specialists to interact with supply and demand and to scale interest and provide price improvement to incoming electronic orders seeking liquidity. Customers have the choice of auction representation and the opportunity for price improvement over the published best bid and offer. Specialists and floor brokers supplement liquidity to stabilize price movements in both the automated and auction components of the NYSE Hybrid Market SM through the use of floor broker agency interest files, specialist files and specialist algorithmic interaction with orders.

As such, both electronically and manually executed orders may benefit from the value added by specialists in committing capital and providing depth to the market, and from the competition among electronic orders, as well as those represented by floor brokers.

Floor brokers participate both electronically and in person, using human judgment to process large or complex orders more effectively than would otherwise be possible on a solely electronic platform. Those customers that desire sub-second, automatic trade execution continue to have access to floor liquidity. In order to preserve the lower volatility that has characterized trading on the NYSE, pre-determined and published LRPs have been implemented to limit severe price moves.

When activated, LRPs allow integration of the electronic market with the auction market for one transaction, thus enabling the specialist to elicit additional trading interest. All better-priced top-of-book bids and offers entitled to protection under Regulation NMS in all other automated markets are immediately accessed, unless customers are provided the same price on the NYSE.

All incoming orders from all competing market centers are automatically executed at the best price displayed on the NYSE. This creates an environment in which the best prices of each market center are protected from inferior-priced trade executions regardless of where an order is entered, and without human interaction.

As part of the NYSE Hybrid Market SM initiative, the NYSE further automated routine specialist tasks and created a new interface to facilitate algorithmic liquidity injection by specialists. In addition, the NYSE has added new functionality to trading floor broker wireless hand-held computers to further automate smart order types and create new broker interest files with layering capabilities.

Table of Contents auction market enables the NYSE market to function more effectively and efficiently.

In the NYSE Hybrid Market SM , specialists and brokers use judgment to improve prices and enhance order competition on the floor of the NYSE, while interacting with the market electronically as well as manually. NYSE Group believes that their judgment will be particularly valuable in less liquid stocks and during the opening and closing of trading, as well as during times of uncertainty, for example, when a corporate announcement or an outside event could lead to market instability and price volatility.

On April 2, , the NYSE completed its post-NYSE Hybrid Market rollout of a new routing service that will shortly replace routing through the Inter-Market Trading system ITS. As of April 2, , the NYSE is connected to the International Securities Exchange and the Alternative Display Facility for routing to better away prices in those markets as required by Regulation NMS. The NYSE plans to use this new routing software to reach all other Market Centers currently serviced through ITS. The ITS system is scheduled to be eliminated in June The NYSE plans to complete its conversion by early May The NYSE currently operates approximately 36, square feet of contiguous trading floor space where specialists, floor brokers and clerks engage in the purchase and sale of securities.

Specialists on the trading floor are charged with maintaining fair, orderly and continuous trading markets by bringing buyers and sellers together and, in the relative absence of orders to buy or sell their assigned stock, adding liquidity by buying and selling the assigned stock for their own accounts.

Floor brokers act as agents on the trading floor to handle customer orders. The NYSE derives revenues from these specialists, brokers and clerks by providing them with various products and services, including space, necessary for them to engage in the purchase and sale of securities on the trading floor. In addition, the NYSE eliminated specialist commissions on transactions in their assigned NYSE-listed securities, including ETFs, and implemented a transaction revenue sharing program with specialist firms.

From the makers of. BALANCE INCOME CASH FLOW. These excerpts taken from the NYX K filed Mar 25, NYSE Trading System The NYSE.

Trading Floor Architecture - Cisco

The NYSE currently operates approximately 22, square feet of contiguous trading floor space where specialists, floor brokers and clerks engage in the purchase and sale of securities. On NYSE Arca, buyers and sellers meet directly in an electronic environment governed by trading rules designed to reflect three fundamental principles of operation: Buyers and sellers can submit these orders on an anonymous basis if they so choose. Once orders are submitted, all trades are executed in the manner designated by the party entering the order, which is often at prices equal to or better than the NBBO.

The NBBO is the highest bid or lowest offer quote reported to the consolidated quotation systems pursuant to the consolidated quotation reporting plans.

Buy and sell orders are posted on NYSE Arca in price order best to worst and then if prices are the same, they are ordered based on the time the buy order or sell order was posted earliest to latest.

This excerpt taken from the NYX K filed May 1, Regulation NMS, adopted by the SEC in , is a set of regulations that will govern certain aspects of trading on securities market centers.

The NYSE Hybrid Market SM is intended to emulate, in a primarily automatic-execution environment, the features of the traditional auction market that have provided stable, liquid and less volatile markets, as well as provide the opportunity for price improvement.

The NYSE Hybrid Market SM features the following: By continuing to maintain market quality, including low intra-day volatility, the NYSE Hybrid Market SM also allows issuers to reduce their cost of capital. With the implementation of the NYSE Hybrid Market SM , our software has accomplished the goal of offering customers greater choice while maintaining market quality.

The Hybrid Market SM , which transparently integrates automatic execution with floor broker and specialist interest, has resulted in narrower quoted spreads and improved fill rates. We expect continued improvement with the increased usage of electronic tools by floor brokers and specialists that process price improvement messages electronically. EXCERPTS ON THIS PAGE: RELATED TOPICS for NYX: Cash Trading Business Client Service Indices Index Services Nyse Arca Trading System Other Trading Services Platforms VIEW MORE.

Track your investments automatically. Use of this site is subject to express Terms of Service , Privacy Policy , and Disclaimer.

By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy.

Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners.

The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.

About Blog Press Feedback Help Get involved. Technology Energy Media Finance Green Issues China All Concepts.

Metals Energy Meats Grains Softs. Currencies Geographies Exchanges Rates. How To Invest Personal Finance Options Definitions. Mar 25, K. May 1, RELATED TOPICS for NYX: