NYSE Trader

Changes to format and content for Crossing Session 2

2012-02-06T19:32:32Z

Technical Specification Changes Required – The format and content of Crossing Session 2 will be changing

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Per NYSE Information Memo 11-6, CSII Baskets are not exempt from the Regulation SHO short sale price restrictions. As such, the content and record layout for submitting Crossing Session II has been updated. Market participants are now required to submit the execution time and price associated with CSII transactions and identify short- or short exempt-related trades within the basket. In addition, market participants will also be required to submit the same individual security information for NYSE Amex listed securities that is currently required for NYSE listed securities associated with a basket.

NYSE will support CSII submitting firms testing by enabling firms to submit their intended file submissions via email. All CSII file submitting firms must participate in testing and successfully submit a test file in the new format specified in the attached technical specification.

The planned timeline for incorporating these changes is as follows:
- Firm Testing Begins - 2/13/12
- Firm Testing Ends - 3/23/12
- Anticipated Production Rollout - 3/30/12

Please submit your test files to : Maria Castro at 212.656.5232 - mcastro@nyx.com

Please direct any technical questions to: Scott Menkes at 212.656.4085 - smenkes@nyx.com

Please direct any business questions to: Bob Airo at 212.656.5663 - rairo@nyx.com

CSII Technical Spec

NYSE Info Memo

Update: NYSE Amex Trading of NASDAQ-Listed Securities

2012-02-06T12:13:03Z

The NYSE Amex is currently trading 93 NASDAQ-listed securities under Unlisted Trading Privileges (UTP). Please see the below link for a complete list of the symbols and their trading floor locations, as of February 06, 2012.

NASDAQ-listed UTP Symbols

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Update: NYSE Amex Trading of NASDAQ-Listed Securities

2012-02-01T14:59:19Z

The NYSE Amex is currently trading 94 NASDAQ-listed securities under Unlisted Trading Privileges (UTP). Please see the below link for a complete list of the symbols and their trading floor locations, as of February 01, 2012.

NASDAQ-listed UTP Symbols

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JCRS to be deactivated on Monday, February 6

2012-01-30T19:10:29Z

NYSE’s Joint Customer Routing System will be deactivated on Monday, February 6, 2012. JCRS allowed customers to reach the NYSE Arca trading system and NYSE Arca-listed securities using their NYSE Common Customer Gateway connections.

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Beginning on Monday, customers will be required to route orders for NYSE Arca-listed securities directly to the Common Customer Gateways at NYSE Arca. For assistance in establishing the required connections, customers may contact:

Connectivity Support
- Email connectivity@nyx.com
- Phone 888-689-7739, and select Option 1

For additional product information, kindly contact your relationship manager or the relationship management team at rmteam@nyx.com.

NYSE and NYSE Amex Retail Liquidity Program -- Update

2012-01-26T15:00:00Z

In October 2011, the NYSE and NYSE Amex announced the introduction of a first-of-its-kind Retail Liquidity Program, pending SEC approval, that would produce cost savings for individual investors through price improvement to retail order flow. Below we note two clarifications to the initial Trader Alert of October 25, 2011:

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Retail Price Improvement Orders (RPI):

The limit price and offset price must be submitted in multiples of the minimum price improvement value, currently set at $0.0010. In addition, any RPI interest that would result in an execution below $1.00 will be prevented from trading, as per the Retail Liquidity Program rules.

Retail Order (RO):

Retail Orders priced below $1.00 will be accepted in sub-pennies and will be eligible to interact with other non-Retail orders if designated to do so by the order originator. Any RO priced in sub-pennies at or above $1.00 will be rejected as an invalid price.

User Acceptance Testing:

The NYSE user acceptance testing facility is currently available to support testing of the new Retail Liquidity Program’s order types. Customers wishing to take advantage of this service should contact firmtesting@nyx.com or 888.689.7739 Option 2 for further information.

Additional details will be provided at a later time regarding target live dates.

For additional information regarding the Retail Order program, please visit our website at https://usequities.nyx.com/connecting/Technical-Specifications.

For additional business questions or comments, please contact your Relationship Manager or one of the additional contacts below:

Robert Airo at rairo@nyx.com or 212.656.5663
Michael Paulyson at mpaulyson@nyx.com or 212.656.2721

Retail Order Program Reference Documents:

Technical Changes in Support of Retail Orders

NYSE Common Customer Gateway (CCG) FIX Specification and API version 5.2

UTPDirect API Specification version 1.9

Enhancement to Pegging Orders

2012-01-13T21:30:27Z

On January 17, 2012, NYSE/NYSE Amex will begin implementation of two changes to the operation of pegging e-Quotes.

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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.

Rollout Schedule

Rule 70
Rule 72

NYSE and NYSE Amex Fees Changes Effective January 1, 2012

2012-01-04T17:54:46Z

Effective January 1, 2012, pending SEC filing, NYSE and NYSE Amex establish the following changes to the equities trading schedules for all securities:

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• The monthly fee for the use of all order entry ports will be $300 per pair per month up to five pairs, then $1500 for each additional five pairs per member organization. Billing for ports will continue to be based on the number of ports on the third business day prior to the end of the month. In instances where an NYSE or NYSE Amex member is a member of both exchanges, the member is charged port fees based on the total number of ports connected to CCGs, whether they are used to trade on NYSE, NYSE Amex, or both.

• The annual NYSE Trading License fee for 2012 will remain unchanged at $40,000 a year for the first two trading licenses and $25,000 a year for any subsequent licenses.

All other pricing remains unchanged.

Client Notice

If you have any questions, please contact your Relationship Manager directly or at rmteam@nyx.com

Update: NYSE Amex Trading of NASDAQ-Listed Securities

2011-12-27T16:24:45Z

The NYSE Amex is currently trading 325 NASDAQ-listed securities under Unlisted Trading Privileges (UTP). Please see the below link for a complete list of the symbols and their trading floor locations, as of December 27, 2011.

NASDAQ-listed UTP Symbols

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Last Night's NYSE and NYSE Amex Closing Auction

2011-12-21T15:54:37Z

Due to a systemic issue that caused queuing of customer orders entering through NYSE Broker Systems, last night’s closing auction for the bulk of our listed companies was delayed until approximately 4:05 pm to ensure that all customer interest could participate. The root cause of the order queuing is currently under review. Going forward, if there is a need to hold the close due to systemic issues, we will send a market wide notice to customers informing them of the event at 4:00 pm. Finally, we would like to apologize for any inconvenience that the slower closing auction may have caused you or your customers.

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Single Stock Circuit Breaker Update for Rights and Warrants

2011-11-23T20:50:48Z

Effective Friday, November 25, 2011, trades in all Rights and Warrants issues will cease to be eligible to trigger Single Stock Circuit Breakers on the NYSE and NYSE Amex markets.

For further details, please reference the SEC filings below:

NYSE
NYSE Amex

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OATS Expansion / Phase-Out of OTS

2011-11-21T15:58:00Z

Effective November 28, 2011, all NMS stocks will be OATS eligible.

Member Organizations that route orders to the NYSE Broker Systems must populate their firm’s Market Participant Identifier (“MPID”) as prescribed in the Common Customer Gateway informational memo dated June 7, 2011 (linked below)

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Member Organizations should continue to maintain compliance with Exchange OTS requirements until an NMS security has been phased into the OATS requirements according to FINRA’s schedule as noted in NYSE Regulation informational memo dated October 12, 2011 (linked below)

General questions regarding this Trader Alert should be address to Bob Airo (rairo@nyx.com 212-656-5663). Questions regarding Floor Broker OATS should be directed to Michael Rutigliano (mrutigliano@nyx.com 212-656-4679).

Information Notice - MPID Broker OATS Submission Notice

Information Notice - Order Tracking rules with FINRA "OATS"

NYSE "Done for Day" Subscription Service Update

2011-11-15T21:04:17Z

The subscription-based “Done for Day” service for NYSE and NYSE Amex Equities immediately returns an unsolicited “UROUT” message for all open Day orders following each individual security’s closing trade. For securities that do not have a closing transaction, an unsolicited “UROUT” message is returned at the designated 5:15 p.m. ET cutoff time. In response to customer requests, beginning Monday, November 21, 2011, the NYSE will move the “Done for Day” cutoff time earlier to 4:45 p.m.

For any questions or to subscribe to the “Done for Day” service, please contact
• your Relationship manager
• Firm Testing at (888) 689-7739 Option 2
• Email: firmtesting@nyx.com.

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NYSE and NYSE Amex Introduce New Retail Order Program

2011-10-25T17:21:28Z

The NYSE and NYSE Amex are pleased to introduce a first-of-its-kind Retail Liquidity Program, on a pilot basis pending SEC approval, that would produce cost savings for individual investors through price improvement on retail order flow.

Retail Orders (RO) – This program will offer a new pool of price improvement liquidity to Retail Member Organizations (RMOs) who will be eligible to submit certain retail order flow, generally defined as unmodified agency orders that originate from a natural person, to the Exchange as a Retail Order (RO). ]]>

An agency order that originates from a natural person and is submitted to the Exchange by an Retail Member Organization (RMO), provided that no change is made to the terms of the order (e.g. side of market) and the order does not originate from a trading algorithm or any other computerized methodology; or

A proprietary order of an RMO that results from liquidating a position acquired from the internalization of an order that satisfies the requirements of the preceding subparagraph.

Retail Orders will be treated as immediate or cancel and will be offered in three varieties. The first type will interact solely with Retail Price Improvement (RPI) orders. The second type will interact with RPI orders and, once all RPI interest has been exhausted, any balance of the RO will execute against the NYSE or NYSE Amex non-RO book. The third type will add the ability to route to protected away market quotes as needed.

Retail Price Improvement Orders (RPI) – All member organizations will be eligible to submit Retail Price Improvement (RPI) Orders in the form of non-displayed interest. Additionally, a member organization may act as an intermediary on behalf of another broker-dealer who qualifies as a Retail Order provider. When RPI interest is priced better than the Protected Best Bid or Offer (PBBO) by a minimum of $0.001, an indication of interest will be published via the NYSE Alerts and NYSE Amex Alerts feeds and that interest will be eligible to interact with incoming RO interest. Firms will have the ability to enter RPI orders with a simple limit price, but will also have the ability to specify a new 'Price Improvement Offset' value. RPI orders submitted with this new offset value will automatically adjust their price to be better than the same side PBBO by the value specified, up to their limit price.

Retail Liquidity Provider (RLP) - Member Organizations that are currently approved as a Designated Market Maker (DMM) or as a Supplemental Liquidity Provider (SLP) will qualify as RLP’s. Retail Liquidity Providers (RLPs) will be required to provide potential price improvement for Retail Orders in the form of non-displayed interest that is better than the PBBO. Similar to our other dedicated liquidity provider programs, RLPs would receive certain economic benefits in exchange for meeting certain performance obligations. Please review proposed Rule 107C for additional details.

Qualifications – Firms wishing to qualify as a Retail Member Organization (RMO) or Retail Liquidity Provider (RLP) must meet certain qualifications as noted below. For more information regarding the qualification process, please contact your Relationship Manager or Robert Airo at 212.656.5663 or rairo@nyx.com.

To qualify as an RMO, a member organization would be required to submit: (1) an application form; (2) supporting documentation; and (3) an attestation, in a form prescribed by the Exchange, that any order submitted by the member organization as a Retail Order would meet the qualifications for such orders under proposed Rule 107C
To qualify as an RMO who represents orders from another broker-dealer, a member organization must submit the above, as well as a signed application with each broker-dealer. In addition if an RMO represents Retail Orders from another broker-dealer customer, the RMO’s supervisory procedures must be reasonably designed to assure that the orders they receive from their customer meet the definition of a Retail Order. Please review proposed Rule 107C and the attached application for further details
To qualify as an RLP under proposed Rule 107C(c), a member organization would be required to: (1) already be approved as a Designated Market Maker (“DMM”) or Supplemental Liquidity Provider (“SLP”); (2) demonstrate an ability to meet the quoting requirements of an RLP; (3) have mnemonics or the ability to accommodate other Exchange-supplied designations that identify to the Exchange RLP trading activity in assigned RLP securities; and (4) have adequate trading infrastructure and technology to support electronic trading.

Additional details will be provided at a later time regarding target live dates. For additional details on how your firm may take advantage of this new service, please refer to the technical notice and documents linked below. For additional business questions or comments, please contact your Relationship Manager or one of the additional contacts below:

Reference Documents
Technical Changes in Support of Retail Orders
NYSE Common Customer Gateway (CCG) FIX Specification and API version 5.1
UTPDirect API Specification version 1.8
RMO Application
RMO – Broker-Dealer Agreement
RLP Application

Update: NYSE Amex Trading of NASDAQ-Listed Securities

2011-10-17T19:00:00Z

The NYSE Amex is currently trading 322 NASDAQ-listed securities under Unlisted Trading Privileges (UTP). Please see the below link for a complete list of the symbols and their trading floor locations, as of October 17, 2011.

NASDAQ-listed UTP Symbols

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Broker OATS MPID Requirements

2011-10-14T15:17:36Z

Effective October 17, 2011, the NYSE and NYSE Amex will require Member Organizations that route orders (and cancel/replacement requests) to the NYSE Broker Systems to populate their firm’s Market Participant Identifier (“MPID”) as prescribed in the Common Customer Gateway informational memo dated June 7, 2011, subject “CCG Support for Market Participant ID (MPID) for Broker OATS Reporting”. In addition, when entering orders manually into the Broker Booth Support System, Floor brokers must include the sending firm’s MPID.

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MPID Requirements:
•If you have been assigned an MPID (NYSE members, FINRA-only members, NASDAQ members), the MPID must be populated on your order flow directed to the floor broker systems
      •For orders sent electronically to CCG, Tag 109 must contain the MPID
      •For BBSS local order entry, the MPID must be entered in the QOE (Quick Order Entry) or Classic screen
•If you are a non-broker-dealer and therefore do not have a MPID, your order flow directed to the floor broker systems must not contain an MPID.
      •For orders sent electronically to CCG, Tag 109 should not be included
      •For BBSS local order entry, leave the MPID field blank in the QOE and Classic screen.

Note: If you do not populate the MPID field with the correct value, your order will be accepted, but it may result in an erroneous OATS submission. NYSE systems will only validate that the MPID is alpha/numeric and doesn’t exceed four characters.

Please contact your Relationship Manager or one of the below contacts should you have any further business questions:

•Robert Airo rairo@nyx.com 212-656-5663
•Mike Rutigliano mrutigliano@nyx.com 212-656-4679

For any CCG Technical questions, please contact Firm Testing at 1-888-689-7739 or send an e-mail to firmtesting@nyx.com.