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


    Can you say rise of the Machines? lol