Currently, the NYSE Exchange systems limit the maximum order size to 6.5 million shares for both the Display Book® (DBK) and the Broker community. The NYSE plans to increase the maximum allowable order size to 99,999,900 shares for any order routed directly to the NYSE eBrokerTM handheld from a proprietary OMS. Orders routed directly to either DBK or NYSE BBSS® will continue to be restricted to the current 6.5 million shares maximum order size.
Orders with special settlement terms may be routed to the NYSE BBSS® order management system for manual representation by the Broker. However, these special settlement orders cannot be routed directly to an NYSE e-BrokerTM handheld. The NYSE plans to enhance the Broker Systems to allow routing of orders with special settlement types directly to the NYSE e-BrokerTM handheld. In addition, the NYSE plans to change the required FIX tags for both NYSE BBSS® and NYSE e-BrokerTM systems. Member Firms are being advised in advance so they can prepare for this change.
Category: Product News
