I was informed today that the 5 min. time out rule on NYSE is gone. What sort of impact can we expect from that (in terms of prop. trading)? NYSE used to post program trading data on the web-site (http://www.nyse.com/marketinfo/datalib/1152267398806.html) but now they stop since the period of June 26-30. I personally think that the involvment of program trading has significantly increased during the last few months through my own observation. Anyone concur or hold a different opinion?
Expect the NYSE to come up with some other BS charge to steal a penny from us. They eliminated this fee only because it was no longer a source of significant revenue....innovative traders/firms figured a way to avoid paying this ridiculous fee several years ago.
I do not understand what you are saying in here, as I do not mention anything about fee at all. probably no impact. most prop firms use software that has auto-refresh orders every 5 minutes. [/QUOTE] I guess so. Anyone know the history about this rule?? why was it there at the first place?
just got a reply from NYSE via email. My bad, the data is here http://www.nyse.com/Frameset.html?n...67398806.html&displayPage=/press/12_2006.html