As previously communicated in a prior client notice on November 21, 2008, the New York Stock Exchange will complete a reduction in CMS capacity by 50% effective for the beginning of trading on Thursday December 11, 2008. The Exchange now has over 70 firms connected to CCG and now receives approximately 90% of our daily order traffic through CCG connections.
In an effort to provide assistance to the handful of firms that have not yet migrated to CCG, the NYSE will provide a CMS to CCG conversion solution through a third party provider. The Exchange expects this service to be available shortly for firms who need more time to migrate their connections from CMS to CCG. We will distribute further details about this service in a later client communication.
Now that most of the daily order traffic has migrated to the CCG platform, the NYSE will now begin decommissioning CMS only mnemonics that have not been used for the 2008 calendar year. A list containing each mnemonic's entering firm and interface will be forwarded to each of the clearing firms shortly. In this separate communication the Exchange will provide member firms a date that each of the their identified mnemonics will be decommissioned.
Category: Connectivity, Product News
