NYSE Amex plans to trade NASDAQ listed equities and select ETFs on an Unlisted Trading Privilege (UTP) basis as an additional trading venue, supplementing NYSE Arca. NYSE Amex UTP will be powered by the NYSE parity-based market model. This initiative underscores NYSE Euronext's commitment to offer customers the broadest array of compelling choices for trading U.S. equities as well as other financial products.
Prior to its integration with the NYSE, the Amex traded a limited number of NASDAQ issues on a UTP basis, accepting order flow through their trading system and publishing quotes and trades to Tape C with a Market Center Participant ID of 'A'. In the same way as the NYSE systems accept order flow for NYSE Amex stocks, the NYSE systems will accept orders for NASDAQ symbols, regardless of the destination market center identified on the order ('N' or 'A'), and will route the order to the appropriate NYSE Amex matching engine and DMM. Quotes and trades will be disseminated to Tape C with a Market Center Participant ID of 'A' and order Acks, UROUTs and reports with be sent back to customers with a market center of 'A'. See the information memo linked below for technical details.
In October of 2009 the NYSE plans to support member firm testing in the User Acceptance Test (UAT) environment during normal business hours. Additionally, the NYSE will provide multiple Saturday production testing opportunities later in the 4th quarter. Based upon these tests and member firm readiness, the NYSE will announce a live date for trading early in the first quarter of 2010. A separate notice will be distributed in the near future providing further details on UAT availability as well as dates that will be available, the functionality that can be tested, and outputs that will be provided for the Saturday production tests.
Please contact your Relationship Manager or one of the below contacts should you have any questions, comments or concerns:
| Robert Airo | rairo@nyx.com | 212.656.5663 |
| Michael Paulyson | mpaulyson@nyx.com | 212.656.2721 |
| Todd Abrahall | tabrahall@nyx.com | 212.656.4966 |
Category: Product News