As previously reported CMS will be decommissioned December 31st, 2008, and new CMS lines will no longer be accepted after October 3rd, 2008. One of the last CMS releases is targeted for cutover on October 7th, 2008. In fact CCG handles over 100 million orders and reports daily accounting for nearly 75% of all NYSE traffic. The next CCG software release is scheduled for cutover on November 3rd, 2008. The following new enhancements are described below so you can evaluate your internal systems changes and modify them accordingly. Or select this Information Memo link to get this same information as a document.: 
CCG 2.1 Notice
1. If an NYSE order is routed to an away market, the NYSE plans on supporting reports executed at sub-penny prices from the Away Markets beginning the end of October 2008. In addition, odd lot orders may begin to receive reports executed at sub-penny prices. A subsequent notification will be distributed with the effective date. This change will occur with a phased stock migration. Firms must be capable of handling up to 4 decimal places on execution reports and ERC messages (report change, price corrections and busts). The NYSE Trading floor will continue to quote and execute in pennies. CCG will reject orders received with sub-penny prices.
2.In the future, the NYSE plans to no longer support Cash, Next Day & Sellers Options settlement type orders. These settlement types will be prohibited, pending SEC approval, at a future date to be determined. Once approved, an updated notice will communicate the targeted date.
Contact Information
If you have any business questions relating to these enhancements, please contact your NYSE Relationship Manager or Karl Nystrom at (212) 656-5056.
For testing arrangements and/or other questions please contact the Service Desk at 1-866-873-7422 or send an email to sfti@siac.com - please place “CCG 2.1” in the subject line.
Category: Connectivity, Product News
