Pending SEC approval, the NYSE will institute a temporary processing change to automatically cancel all open GTC orders and replacement orders that received a partial fill or were partially canceled during the trading day. Customers should expect to receive an unsolicited "UROUT" at approximately 4:30 p.m.
Customers are advised that any resubmitted orders for the unexecuted quantity returned will be considered new orders. GTC orders that did not receive a partial fill or were not partially canceled during the trading day will continue to be retained overnight. It is anticipated that this change will go into effect in the December timeframe and normal order processing will be restored in the 1st Quarter of 2010.
Also beginning in December, the NYSE plans to activate “Done for Day” messages on a Firm subscription basis. Subscribed Firm mnemonics will receive an unsolicited end of day “UROUT” message for all unexecuted “Day” orders sent to SDBK at the symbol’s designated cutoff time, currently planned as 4:30 p.m. Member Firms interested in testing this new service can contact our Service Desk at 1-866-873-7422 or send an email to support@nyx.com.
Technology Trading Memo
Post Trade Information Memo
Category: Product News
