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NYSE Trader Updates

Category: Securities

SEC Naked Protection Order Extended to 08/12/08

30 Jul 2008

The SEC has extended it's emergency Order to enhance investor protections against "naked" 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.

Category: Securities

SEC Naked Protection Order Effective 07/21/08: Limited Exemptive Relief for Specialist/Market Makers Expected

18 Jul 2008

On July 15, 2008, the SEC issued an emergency order to enhance investor protections against "naked" short selling in the 19 securities listed below. The SEC'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.

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Category: Securities

Important update for 06/09/08 trading in UBS RT

08 Jun 2008

The NYSE anticipates limited trading in UBS AG Rights (Expiring June 10, 2008) Symbol: UBS RT - today, Monday, June 9, 2008, trading as Cash Only. There will be four auctions: the first at approximately 10 am ET, followed by auctions at approximately noon ET and 2 pm ET, and a final transaction at approximately 4 pm ET. Update messages (online at traderupdates.nyse.com and via NYSE System Status) will confirm these times, and these transactions will follow routine price indication procedures and indication time intervals.

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Category: Securities

DOT Reserve Pilot extended to all NYSE Listed Securities Beginning 05/09/08

05 May 2008

Beginning on Friday, May 9, 2008 the New York Stock Exchange will extend the DOT Reserve Order type from the current 100 pilot securities to all NYSE Listed Securities. Requiring a minimum posting of 100 shares and offering the ability to enter flexible replenishment amounts, the new DOT Reserve order will give clients additional flexibility in managing their NYSE systemic order flow and accessing the Exchange's unparalleled liquidity pool. The planned floor wide expansion will allow this useful order flow management tool to now be used for all NYSE Listed names.

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Category: Securities

DOT Reserve Pilot Begins 04/23/08

21 Apr 2008

The New York Stock Exchange is moving forward with Phase 1 of the DOT Reserve Pilot. Beginning Wednesday, April 23, 2008 the Exchange will begin accepting DOT Reserve orders in the 100 pilot securities. Requiring a minimum posting of 100 shares and offering the ability to enter flexible replenishment amounts, the new DOT Reserve order will give clients additional flexibility in managing their NYSE systemic order flow and accessing the Exchange's unparalleled liquidity pool.

The links below point to the technical specification document, Information Memo and the Rule filing.

Full Technical Specification
NYSE Regulation Information Memo
Rule Filing SR-NYSE-2008-30

Category: Securities

DOT Reserve Order Type Information and 100-Stock Pilot List

28 Mar 2008

Last week the NYSE distributed a link to the technical specification for the upcoming electronic reserve order type. At that time we acknowledged distribution of additional information regarding the reserve order type and the 100 stocks included in the initial pilot.

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Category: Securities

Berkshire Moves to 1 Share UOT

15 Jan 2008

Beginning on January 25, 2008 the NYSE will convert Berkshire Hathaway Inc. (BRK A) to a one (1) share Unit of Trade (UOT) from a ten (10) share UOT. For details of the change and its impact please review the changes to current Unit of Trade (UOT) for Berkshire Hathaway Inc. (BRK A).
Floor Operations Information Memo

Category: Operations, Securities

NVL Removed From Reg NMS Pilot

21 Jun 2007

One of the companies on the NYSE Pilot Stock list, Novelis (NVL), was acquired by another company, and was delisted a few weeks ago. After conferring with the SEC , in the interest of minimizing change at this late date, we have eliminated NVL from the list without adding a new stock to the list.
List of Reg NMS Pilot Phase NYSE Stocks

Category: Securities

NYSE's Handling of Securities Quoting in Subpennies

01 Jun 2007

This document provides details regarding the changes associated with the Exchange's decision to quote and trade in penny increments only, and the adoption of a non-regulatory trading halt procedure in order to remain compliant with Regulation NMS in securities that are priced below $1.00 per share. The Exchange has implementing an approach to avoid any trading in a security at the Exchange when its price falls below $1.00 per share, while still permitting the security to remain listed so it can continue to be traded by other markets, including NYSE Arca, on an unlisted trading privileges (“UTP”) basis.
Floor Operations Information Memo
List of Current Subject to Subpenny Trading Halt

Category: Securities

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