"Free" NYSE trading starts today.

Some good changes taking place today. We get our pre-open indications back again, and they are waiving exchange fees for opening only orders. Stocks opening near their closing prices will be opened immediately.

"Effective November 1, 2007, the New York Stock Exchange (NYSE) will offer free trading to all customers in NYSE securities (excluding ETFs) for market and limit orders executing on the opening price, including Market-On-Open (MOO), Limit-On-Open (LOO) and Good-Til-Cancel (GTC) orders.

In addition, the NYSE recently established a more efficient opening process that allows specialists to automatically open stocks for trading quickly and more efficiently, freeing them up to focus on larger situations with imbalances in an effort to discover the best price. The NYSE has the most liquid opening and a superior process for handling imbalances and facilitating better price discovery. Specialists play a vital role in managing imbalances and establishing the best opening price, including providing additional support to minimize imbalances and avoid unreasonable price variations.

In November, the NYSE will be providing real-time pre-open indicative prices, which will be available both to the NYSE floor community and through the NYSE Alerts data feed. The NYSE plans to offer additional pre-open information in the future.

In November, the NYSE will be providing real-time pre-open indicative prices, which will be available both to the NYSE floor community and through the NYSE Alerts data feed. The NYSE plans to offer additional pre-open information in the future."

Don

 

Good news
Thanks Don

 

You sure Don? On redi, doesn't look like there are any pre-opening indications.

 

They say "in November" about the indications, so I guess they'll get them going soon.

Don

 

Let's hope it really is in November. thanks Don.

 

The Specialists have been giving back the openning trades for "Free" since 1978. The Firms just never passed it on to their customers.

 

Don -

Any updates on when they will start providing the opening price indications again ???

I did notice today & yesterday I got IMBALANCES at the open at about 9:28 but they were small insignificant sizes. I remember when they used to provide these on expiration days only. Are they going to provide the imbalances at the open again on expiration days also ???

Thanks for any info.

 

I think they're just testing the system, I saw imbalances all day yesterday and color coded quotes this AM as well, but not real indications. I suppose we'll all know at the same time one day soon.

If I hear anything reliable, I'll post it up.

Don

 

When is this "change" (back) going to happen Don?? It is 11/7 at it certainly hasn't happened yet.

Safe to say i'm very disappointed in the nyse. How stupid to withhold this valuable info to the general public. Shame on them.

 

They said "November" - I, too, hope they get it together. I'm seeing "tests" pre-open - but I'm also guessing that they have a bit of a concern with the new way they started offering "either/or" consolidated vs. NYSE pricing. I'm sure it will all work out.

Don