On January 17, 2012, NYSE/NYSE Amex will begin implementation of two changes to the operation of pegging e-Quotes.
First, pursuant to an amendment to NYSE Rule 70, pegging e-Quotes, which normally peg to the national best bid or offer, will now join the next available best-priced non-pegging interest if pegging to the NBB/O would execute against the Exchange BBO. Second, pursuant to an amendment to NYSE Rule 72, non-pegging interest that becomes the Exchange BBO will now be considered the setting interest and will retain priority at the BBO.
The Exchange will implement these changes on a symbol basis over the next two to three weeks and will post a list of those symbols the day before they are cut over. The first set of symbols for cutover on January 17, 2012 is linked below.
Category: Technical