NYSE Arca 1st Exchange to Route to Diverse, Non-Displayed Liquidity
From an NYSE Euronext press release just out:
NYSE Euronext (NYSE Euronext: NYX) today announced that NYSE Arca launched a routing and price improvement service that is the first of its kind from an exchange: offering clients access to non-displayed liquidity. Through the addition of routing to participating broker-dealers and Alternative Trading Systems (ATSs), investors now have unprecedented access to non-displayed quotes and the industry’s largest aggregation of liquidity by an exchange.
Trading interest from these venues will be included in the NYSE Arca routing algorithm, providing customers with a variety of benefits, including:
• Increased potential for filling orders;
• Potential for price improvement;
• Extraordinary access to liquidity with 29 confirmed participants, comprising the largest collection of non-displayed liquidity pools available in the market;
• Access to 3 1/2 times the number of routing destinations offered by the nearest competitor.“Providing easy and efficient access to these diverse, non-displayed liquidity venues is an extension of our commitment to offer the greatest array of services to our clients,” said Lawrence Leibowitz, Group Executive Vice President and Head of U.S. Markets and Global Technology, NYSE Euronext. “By linking more market participants than any other exchange, we are reducing fragmentation and offering our clients greater speed, better prices and equality of access to liquidity.”
Happy Wednesday, folks. Sorry the posting here has been so sparse lately; day job has had me jammed with things like the above announcement, which I hope is good news for those of you struggling with fragmentation. Hope to get back to more frequent posting very soon.
In the meantime…
Today in NYSE History
12 March 1825 — The NYSE rented a room to conduct its daily trading sessions from Mr. John Warren, a member of the Exchange.
Original post by admin