Sub-Penny Trading....

Discussion in 'Trading' started by Moc Yeah, Jan 29, 2010.

  1. Anyone know if rebates will be offered on these? Either way, I have to assume that the daily volumes on these will spike higher right off the bat.

    NYSE Trader
    NYSE to Activate Sub-Penny Trading
    21 Jan 2010
    On February 1, the NYSE and NYSE Amex will begin accepting, displaying and executing limit and stop orders priced less than $1 entered in sub-pennies without rounding such prices to the nearest whole penny. Pursuant to Regulation NMS Rule 612, orders priced equal to or greater than $1 entered in sub-pennies will continue to be rejected, as will limit and stop orders priced under $1 in increments smaller than $0.0001.

    The NYSE and NYSE Amex will also display these sub-penny priced orders in the NYSE and NYSE Amex OpenBook products.

    This functionality will be implemented across all NYSE and NYSE Amex securities in a phased approach over the course of several weeks. As stocks are made eligible for sub-penny trading, they will be published to the NYSE Equities References page.

    Please see the technical document linked below for further details.
    Trading Technology Memo

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    Can you say rise of the Machines? lol