Hybrid Phase III dress rehearsal on Sept. 30

Discussion in 'Order Execution' started by Steelhead, Aug 11, 2006.

  1. http://www.nyse.com/

    now its becoming clearer, phase 1 and 2 were to simply arm the floor and the institutions----phase 3 they turn the switch
    seems like they have already f#$ked with LRP and sweeps.

    Id pay anything to know how tailored this is all to goldmans
    black box systems
  2. MMHunter


    It's also heavily slanted to towards specialists. God help the SEC if they are stupid enough to approve the NYSE's request that specialists trade on parity with the public.
  3. zar_d


    does anyone know how a liquidity provider will be price improved under the sweeps and LRPs with the Hybrid Market?
  4. its amazing how big phase 3 is gonna be....
    they got armed for us in 1 and 2,,,,,in 3 they are turning the switch on,,,,with all the goldman people around there.........
  5. Steelhead. You seem to be one of the few traders paying attention to this.How do you think this will affect NYSE scalping?

    There were a flurry of discussions about 4 months ago about this change (Reg NMS) and then it died down. Now that they will soon turn it on, I'd like to know your opinion. Thanks
  6. zar_d


    can you guys give me more specific answers?
  7. mushin,
    If I were you, Id go to nyse.com and spend some time studying the changes coming..... I honestly see positives and negatives
  8. OMG We're all going to die!:D
  9. Ha!
  10. No way to be sure, but I assume with further liquidity access there will be an even greater absence of cleanup prints that some of us became used to, but that's not a huge deal. Changes to the direct+ share size might lead to unpredictable pops followed by sharp corrections that could possibly knock around some of the retail programs for a while until they adjust -- like what happened when the SHO pilot began. Any changes will be better reflected in the less liquid stocks.

    I'm just guessing though; I'm really not good at imagining these kinds of changes in concrete terms and don't scalp much anymore.
    #10     Aug 19, 2006