A couple of people have been asking me lately about order routing. So here is a quick overview of Direct+ for NYSE stocks. Direct+, NYSE+, and NX all describe the NYSE's version of an ECN. Direct+ is an automatic execution as long as certain criteria is met. 1-The NY bid or offer that you are NX'ing (hitting) has to be the NBBO. (No ECN's or Regionals at the inside quote.) 2-NX will not work when the size displayed is 100. (Size must be at least 200 shares.) 3-An NX order can not exceed 1099 shares and must be at least 100 shares. 4-Most software prohibits it, but it is a violation of NYSE rules to use Direct+ on the same side of the market within 30 seconds of another Direct+ order. 5-Must be a limit order. 6-If any of these criteria are not met the order automatically becomes a DOT order (goes to specialist to be dealt with). Note- a Direct+ order will never get price improvement. See attachment for examples. Hope this helps. Comments welcome.