Crossing Network @ NYSE??

Discussion in 'Order Execution' started by qazmax, Jul 30, 2003.

  1. qazmax


    Has anyone heard of a new crossing network at the NYSE?
    Do you have a website with details?

    Someone mentioned it on the phone, but I had no idea what they were talking about? They said it was similar to the crossing network on Instinet.

  2. It's not new
  3. Ebo


    NYSE crossing Network is about 10 years old.
    Rock on.
  4. qazmax


    Well I guess I am on the cutting edge as always...

    Is there a direct website, I did not find info under

    Can you give a simple run down of how it works? It is similar to INCA where you get filled at the mid-point if a counter order is entered?

    Is it just after the close?

  5. metal1


    crossing session orders are only filled on the last NYSE sale .
  6. NYSE has a crossing network that matchs buy and sell orders at 5 p.m. Eastern Time at the exchange's 4 p.m. closing prices.

  7. qazmax


    What is the time limit for entering orders on this crossing network?

    Can it be done any time before 5:00pm EST time?

    Can you send the orders down a DOT line? Or is there a special connection-thing-a-ma-gigie??

  8. Crossing Session I operates between 4:15 and 5:00 p.m. (EST). Execution is at 5:01 p.m. Matched orders are executed at the NYSE closing price .