Hybrid Phase III dress rehearsal on Sept. 30

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

  1. I think the NYSE did away with the idea of price improvement on sweeps after big traders complained that their sweep orders should be able to execute against the posted prices of standing orders.

    So I'm pretty sure that where you place your order is where you'll get filled. (Just as if it were an ECN order)
    #11     Sep 4, 2006
  2. if no price improvements and many thingts automated why continue to trade nyse. one can get isntant fills every time ont hicher naz so why so why screw with nyse. now if they're not going to price improve will they fill orders isntantly electronically if shares there? i still notice it takes 5-10 seconds to get fills even if you nyse direct it
    #12     Sep 4, 2006
  3. if u wish to learn more about the hybrid mkt read this pdf:
    #13     Sep 4, 2006
  4. Math_Wiz


    So this Hybrid stuff has been in effect for a week, right? I haven't noticed any differences. Did anybody notice any changes in market behaviour?? I probably wasn't paying close enough attention, but the markets seemed pretty "normal" to me.

    #14     Oct 7, 2006
  5. Only two stocks (other than LU which was switched over quite some time ago) have gone hybrid. EOP & AXP both switched over last Friday, so 2 full trading days of phase III for them. Doesn't seem much different in terms of the spec getting in your way, other than the executions going through quicker.
    #15     Oct 9, 2006
  6. fbell50


    CNBC reported 97% of AXP was electronic on 10/6 and that the specialists were scared. My data source shows 96% electronic if you include open & close, so I believe the 97%.

    It's looking more likely the NYSE will follow the same route as the LSE when they went fully dual mode, electronic and floor. My understanding is that within a short period of time the floor was dead.
    #16     Oct 9, 2006
  7. Math_Wiz


    #17     Oct 9, 2006
    #18     Oct 9, 2006
  9. Math_Wiz


    #19     Oct 11, 2006
  10. There will be 21 new issues going hybrid tomorrow including CHK & MA to name a few. Enjoy!
    #20     Oct 11, 2006