1. The NYSE's current system can't handle a large number of orders, regardless of if they get filled or not (as proven by last weeks debacle) 2. Nms, (being implemented Monday) will increase the number of orders (due to the majority of orders being cancelled) by about 10 fold. This will create massive panic. 3. With the amount of fear festering in the market during the last week, combined with all the talk of another "Black Monday", and adding the NYSE's inability to execute orders. ANY bad news will be accentuated exponentially. Thus, Black Monday may very well become a self fulfilling prophecy.
This is interesting news to me.. I'm just a small time futures trader... but as you said.. with all of the volume lately and alleged 'system glitches' a major infrastructure upgrade seems .... odd. do you have any links to information about this? I don't see anything readily apparent on the nyse's website. Thanks!
http://hybridtalk.nyse.com/archives/2007/02/revises_fee.php You're right, its almost like they're hiding the potential danger. This is all I could find with ease. you can try searching reg nms march 5th 2007 etc. hope this helps, 8s
this is a game that lots of systems/companies play with their computer systems...think you have enough, then find out the threshold is exceeded. Add more, increase the threshold, it gets exceeded again. Rinse and repeat.