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      <title>NYSE Trader Updates</title>
      <link>http://traderupdates.nyse.com/</link>
      <description>NYSE Trader Updates</description>
      <language>en</language>
      <copyright>Copyright 2008</copyright>
      <lastBuildDate>Wed, 20 Aug 2008 13:50:23 -0500</lastBuildDate>
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            <item>
         <title>Liquidity Replenishment Points (LRPs) Timer Pilot</title>
         <description><![CDATA[On 21 August 2008, the NYSE will commence a pilot regarding the calculation of its Liquidity Replenishment Points (LRPs) in an effort to increase the availability of NYSE quotes eligible for automatic execution. In accordance with Rule 1000, the NYSE will revert to auto-quoting in situations where the LRP has been hit but the market is not locked or crossed. The timeframe to go fast again will be reduced from ten seconds to five seconds.

In addition, the recalculation of LRPs, currently done every 30 seconds, will be reduced to every ten seconds.

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/LRPRECALC.pdf">Current list of LRP Pilot List</a>

]]></description>
         <link>http://traderupdates.nyse.com/2008/08/liquidity_replenishment_points_2.html</link>
         <guid>http://traderupdates.nyse.com/2008/08/liquidity_replenishment_points_2.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Wed, 20 Aug 2008 13:50:23 -0500</pubDate>
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            <item>
         <title>NYSE/Amex Integration (NYSE Alternext U.S.) Moved Back to Support Member Firms&apos; Transition Extension Requests</title>
         <description>NYSE Euronext is moving the timing of the American Stock Exchange equities integration to early December from mid-September.  In connection with this, we are cancelling the industry test that had been scheduled for Aug. 23.  As a reminder, the equities integration will transition trading from Amex/AEMI systems to the NYSE Alternext brand, using NYSE systems.

</description>
         <link>http://traderupdates.nyse.com/2008/08/nyseamex_integration_nyse_alte.html</link>
         <guid>http://traderupdates.nyse.com/2008/08/nyseamex_integration_nyse_alte.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
                  <category domain="http://www.sixapart.com/ns/types#category">Traders</category>
        
        
         <pubDate>Fri, 15 Aug 2008 09:50:37 -0500</pubDate>
      </item>
            <item>
         <title>Decommissioning of CMS on 12/31/2008</title>
         <description><![CDATA[The NYSE will decommission the Common Message Switch (CMS) as of December 31, 2008. It is important that your firm begin the conversion process from CMS to the Common Customer Gateway (CCG) as soon as possible. In addition, the NYSE will not accept requests for new CMS sessions after October 3, 2008. 
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/DecommissioningCMS12012008.pdf">NYSE Trading Technology Memo</a>
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/fix_service_spec.pdf">NYSE Fix Specification & User Guide Version 3.5.1</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/08/decommissioning_of_cms_on_1231.html</link>
         <guid>http://traderupdates.nyse.com/2008/08/decommissioning_of_cms_on_1231.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
                  <category domain="http://www.sixapart.com/ns/types#category">Traders</category>
        
        
         <pubDate>Tue, 05 Aug 2008 11:23:14 -0500</pubDate>
      </item>
            <item>
         <title>NYSE Alternext U.S. (NYSE/Amex Integration) – August 23rd Industry Test </title>
         <description><![CDATA[As previously announced in the July 7, 2008 information memo titled ‘NYSE Alternext U.S. (NYSE/Alternext Integration) – Trading Systems Update”, member firms were informed that Amex Equities will be migrated onto the NYSE Trading Platform in the September 2008 time frame.  In preparation for this integration, the NYSE will support Member Firm testing on Saturday August 23, 2008 for firms to ensure their readiness.  It is recommended that all Member Firms participate in the planned testing.

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/Amex8-23TestNotice080804.pdf">NYSE Alternext U.S. (NYSE/Amex Integration) – Aug 23rd Industry Test</a>  
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/AMEXTradingSystemNotice070708.pdf">NYSE Alternext U.S. (NYSE/Amex Integration) – Trading Systems Update</a>
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/AmexPostTradeNotice070708.pdf">NYSE Alternext U.S. (NYSE/Amex Integration) – Post Trade Update</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/08/nyse_alternext_us_nyseamex_int_1.html</link>
         <guid>http://traderupdates.nyse.com/2008/08/nyse_alternext_us_nyseamex_int_1.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Mon, 04 Aug 2008 15:04:36 -0500</pubDate>
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            <item>
         <title>NYSE Alternext U.S. (NYSE/Amex Integration) – FIX Message Formatting</title>
         <description><![CDATA[As previously announced in NYSE Trader Update  <a href="http://traderupdates.nyse.com/2008/07/notice_of_upcoming_nyse_system.html">Notice of upcoming NYSE system changes to support the NYSE/Amex Integration (NYSE Alternext U.S.)"</a>, Amex Equities will be migrated onto the NYSE Trading Platform in the September 2008 timeframe. The Amex Auction and Electronic Market Integration system (AEMI) currently supports FIX protocol version 4.4. Upon completion of the Amex Equities migration to the NYSE Trading platform, incoming FIX messages must conform to the currentNYSE Fix 4.2 specification or NYSE FCS protocol formats.For more detailed information regarding NYSE version FIX4.2 and the Amex migration see the NYSE FIX Specification version 3.5.1 and the Integration & Connectivity Notice links provided below.
 
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/AmexMigrationTechnicalDifferences.pdf">NYSE Alternext U.S. Trading System (NYSE/Amex Integration)  CMS Integration & Connectivity Notice</a>

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/fix_service_spec.pdf">NYSE Fix Specification & User Guide version 3.5.1</a>
]]></description>
         <link>http://traderupdates.nyse.com/2008/08/nyse_alternext_us_nyseamex_int.html</link>
         <guid>http://traderupdates.nyse.com/2008/08/nyse_alternext_us_nyseamex_int.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
                  <category domain="http://www.sixapart.com/ns/types#category">Trading Floor</category>
        
        
         <pubDate>Mon, 04 Aug 2008 10:46:27 -0500</pubDate>
      </item>
            <item>
         <title>Elimination of the Exceptional Message Fee (EMF)</title>
         <description><![CDATA[Effective, August 1, 2008 the New York Stock Exchange will eliminate the Exceptional Message Fee of $0.01 per exceptional system message. This fee was originally introduced to help supplement the cost of adding additional capacity to the Exchange's trading systems.  The elimination of the EMF reflects a continuing effort by the NYSE to maintain a cost effective, value-added execution offering for our customers. 

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://apps.nyse.com/commdata/pub19b4.nsf/docs/BE426C80B12078A88525749500659597/$FILE/NYSE-2008-64.pdf">Rule Filing SR-NYSE-2008-64</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/07/elimination_of_the_exceptional_1.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/elimination_of_the_exceptional_1.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Thu, 31 Jul 2008 15:09:48 -0500</pubDate>
      </item>
            <item>
         <title>Contingency Trading Exercise now Scheduled for 10/25/08</title>
         <description><![CDATA[The NYSE is postponing the previously announced industry wide contingency trading test, which was originally planned for August 9, 2008. This was to be a comprehensive test, allowing participants to test all components of continency trading, however we determined that many firms were not yet ready to do this by the original test date.  To allow firms more time to prepare, the August 9th contingency exercise will be delayed until October 25th.  Details about this test will be sent out about a month prior to the test. 

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/ContingencyMemo073008.pdf">NYSE Business Contingency Update Memo</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/07/contingency_trading_exercise_n.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/contingency_trading_exercise_n.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Connectivity</category>
        
        
         <pubDate>Thu, 31 Jul 2008 08:30:00 -0500</pubDate>
      </item>
            <item>
         <title>SEC Naked Protection Order Extended to 08/12/08</title>
         <description>The SEC has extended it&apos;s emergency Order to enhance investor protections against &quot;naked&quot; short selling through EDT August 12th. The Order targeted 19 securities in a July 15th amendment that has been in effect since Monday, July 21 and had been scheduled to terminate at 11:59 EDT on Tuesday, July 29, 2008. The SEC has announced that the Order will not be extended beyond the new August 12th expiration date.

</description>
         <link>http://traderupdates.nyse.com/2008/07/sec_naked_protection_order_ext.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/sec_naked_protection_order_ext.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Securities</category>
        
        
         <pubDate>Wed, 30 Jul 2008 20:27:08 -0500</pubDate>
      </item>
            <item>
         <title>NYSE Floor Brokers Get New Tools to Trade Algorithmically and Locate Deep Liquidity </title>
         <description><![CDATA[The New York Stock Exchange is rolling out two new technologies that, respectively, give brokers on the NYSE trading floor the ability to trade algorithmically, and strengthen the brokers’ ability to locate large sources of liquidity.
<a href="http://www.nyse.com/press/1217240107364.html">NYSE News Release</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/07/nyse_floor_brokers_get_new_too.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/nyse_floor_brokers_get_new_too.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Traders</category>
        
        
         <pubDate>Mon, 28 Jul 2008 13:33:53 -0500</pubDate>
      </item>
            <item>
         <title>SEC Provides Exemptive Relief with Amendment to &quot;Naked&quot; Short Sell Emergency Order </title>
         <description>On July 18, 2008, the SEC issued an amendment to its July 15, 2008 Emergency Order related to short selling securities of certain specified substantial financial firms (see Appendix A below).  The Amended Order provides that, in order to permit bona fide market makers to facilitate customer orders in a fast-moving market without possible delays, the borrow and arrangement-to-borrow requirement of the original Order does not apply to these bona fide market makers.  </description>
         <link>http://traderupdates.nyse.com/2008/07/sec_provides_exemptive_relief.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/sec_provides_exemptive_relief.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Fri, 18 Jul 2008 17:00:04 -0500</pubDate>
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            <item>
         <title>SEC Naked Protection Order Effective 07/21/08:  Limited Exemptive Relief for Specialist/Market Makers Expected</title>
         <description>On July 15, 2008, the SEC issued an emergency order to enhance investor protections against &quot;naked&quot; short selling in the 19 securities listed below.  

The SEC&apos;s order provides that no person may effect a short sale in these securities unless such person (or agent) has pre-borrowed or arranged to borrow the security or otherwise has the security, and delivers the security on settlement date.  
</description>
         <link>http://traderupdates.nyse.com/2008/07/sec_naked_protection_order_eff.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/sec_naked_protection_order_eff.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Securities</category>
        
        
         <pubDate>Fri, 18 Jul 2008 07:30:00 -0500</pubDate>
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            <item>
         <title>New Market Model Update</title>
         <description><![CDATA[The NYSE New Market Model Initiative is on track to begin roll out in late August or early September. See the updated Rule Filing for additional details, and if you haven't yet, see "<a href="http://traderupdates.nyse.com/2008/06/evolution_of_nyse_market_model.html">Evolution of the NYSE Market Model</a>"  for an Initiative overview. <br><img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://apps.nyse.com/commdata/pub19b4.nsf/docs/06EEEE43934F1926852574890071C396/$FILE/NYSE-2008-46%20A-1.pdf">Rule Filing SR-NYSE-2008 Amendment No. 1</a>]]></description>
         <link>http://traderupdates.nyse.com/2008/07/new_market_model_update.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/new_market_model_update.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Traders</category>
        
        
         <pubDate>Thu, 17 Jul 2008 16:40:00 -0500</pubDate>
      </item>
            <item>
         <title>Notice of upcoming NYSE system changes to support the NYSE/Amex Integration (NYSE Alternext U.S.)</title>
         <description><![CDATA[At the closing of the merger between NYSE Euronext and the American Stock Exchange, the name of the American Stock Exchange will be changed to NYSE Alternext U.S. On a specified date following that closing, trading in NYSE Alternext listed securities will be migrated to 11 Wall Street and integrated onto the NYSE Trading Platform. The Market Data stream will print all NYSE Alternext Securities trades and quotes to Tape B as “A”, since NYSE Alternext U.S. and NYSE will continue to be separate registered securities exchanges. Member Firms are being advised in advance so that they can prepare for changes in both trading and post trading systems. 

<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/AMEXTradingSystemNotice070708.pdf">Amex Trading System Integration Notice</a>
<img src="http://www.nyse.com/images/about/icon_pdf.gif" border="0" /> <a href="http://www.nyse.com/pdfs/AmexPostTradeNotice070708.pdf">Amex Post Trade System Integration Notice</a>
]]></description>
         <link>http://traderupdates.nyse.com/2008/07/notice_of_upcoming_nyse_system.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/notice_of_upcoming_nyse_system.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Mon, 07 Jul 2008 15:20:31 -0500</pubDate>
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            <item>
         <title>NYSE Order Imbalances Product Goes Live</title>
         <description>The NYSE today will introduce NYSE Order Imbalances, a rich, new data product that will increase the transparency of the NYSE&apos;s daily open and close, the two most critical periods of the trading day.</description>
         <link>http://traderupdates.nyse.com/2008/07/nyse_order_imbalances_product.html</link>
         <guid>http://traderupdates.nyse.com/2008/07/nyse_order_imbalances_product.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Product News</category>
        
        
         <pubDate>Tue, 01 Jul 2008 14:23:36 -0500</pubDate>
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            <item>
         <title>Russell Reconstitution – 06/27/08</title>
         <description><![CDATA[On June 30, 2008, the newly rebalanced Russell indices (Russell Global Index, Russell 1000® Index, Russell 2000® Index Russell 3000® Index and Russell Microcap® Index) will go into effect and will remain in place for the next 12-month period.  The newly reconstituted indices will take effect after the close of the U.S. equity markets on Friday, June 27, 2008.  The Russell Investment Group will use the NYSE Closing trades to price the NYSE-listed securities added to the indices.  Based on preliminary lists published by Russell on June 20, 2008, 164 NYSE-stocks will be added or deleted.              <br>]]></description>
         <link>http://traderupdates.nyse.com/2008/06/russell_reconstitution_062708.html</link>
         <guid>http://traderupdates.nyse.com/2008/06/russell_reconstitution_062708.html</guid>
                  <category domain="http://www.sixapart.com/ns/types#category">Operations</category>
        
        
         <pubDate>Mon, 16 Jun 2008 15:34:21 -0500</pubDate>
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