As was previously announced in PT 169 - Reduction in OCS Traffic, the NYSE will begin reducing the number of comparison sides being processed in the On-Line Comparison System (OCS), and migrate that data into the locked-in comparison stream.
The first phase of this change will begin tomorrow, June 11th, when all eQuotes with a single underlying order will be locked in. Brokers will no longer see these eQuotes in OCS when this change goes into effect. This will reduce the clearing cost on Floor Broker trades, as locked-in trades are not subject to the OCS comparison fee. In addition, this traffic will receive all the additional efficiencies available via the locked-in environment, such as automated reversal and correction processing, population of Audit Trail data elements such as entering firm mnemonic, account type and firm branch-sequence, and forwarding of the Account ID field (FIX Tag 1) if populated on Common Customer Gateway (CCG) Order entry.
Please contact John Schwarzbeck at jschwarzbeck@nyx.com or (212) 656-5462, Adina Solomon at asolomon@nyx.com or (212) 656-2148, or Larry Moreno at lmoreno@nyx.com or (212) 656-4648 with any questions.
Category: Operations
