On Friday, July 30, pending SEC approval, the NYSE will begin to eliminate the use of a separate system for the pricing of Odd Lot orders. All orders, regardless of size, will be processed into the Exchange’s Matching Engine, Display Book for execution.
The elimination of the separate Odd Lot system will be implemented on a stock by stock basis. The initial stocks to be migrated will be published early next week via an NYSE Trader Update as well as published on the NYSE Equities Reference page.
Firms wishing to test in the User Acceptance Test (UAT) environment may do so by contacting the Firm Testing group at firmtesting@nyx.com.
Should you have any questions, please contact:
Michael Paulyson at mpaulyson@nyx.com or 212.656.2721
Robert Airo at rairo@nyx.com or 212.656.5663
Your Relationship Manager
Reference Documents and Links:
Trading Systems Update - Trading in Shares: Elimination of the NYSE and NYSE Amex Odd-Lot System
NYSE Rule Filing No. SR-2010-43
NYSE Equities Reference Page
NYSE Post Trade Notice PT 164 – Merged Order Log Redesign
Category: Operations
