The NYSE announced today that SEC approvals have cleared the way for a Monday October 27th launch of the NYSE’s next-generation market model featuring advanced new trading tools supported by a revised rule set designed to maximize the NYSE's market quality and competitiveness in today's increasingly electronic trading environment. The rollout of the new Market Model will be released in phases.
This initiative is designed to distinguish the NYSE from competitors and provide greater value to customers by enhancing the Exchange's unique market model with new benefits and functionality.
"Fast, electronic trading is the norm now, and our trading customers are looking for us to go beyond just fast and electronic- to offer something more. They want a market that encourages participants to add liquidity and helps them trade larger orders more efficiently," said Lawrence Leibowitz, NYSE Euronext"s Group Executive Vice President in charge of U.S. Markets and Global Technology. "The NYSE is providing customers with a unique range of solutions for these challenges -- a rich combination of high-tech and high-touch features that no other market offers. Our listed companies and their investors also stand to benefit from the resulting tighter spreads, lower volatility and higher level of price improvement."
For additional information about the new model, please refer to the following reference materials.
NYSE Next Generation Model
Completed Phased Securities Rollout
NYSE Regulation Information Memo 08-56
NYSE Regulation Information Memo 08-57
NYSE Rule Filing # SR-NYSE-2008-46 Amendment No. 1
NYSE Rule Filing # SR-NYSE-2008-46 Amendment No. 2
NYSE Rule Filing # SR-NYSE-2008-46 Amendment No. 3
Category: Operations, Product News, Traders
