Does anyone think that average daily volatility of individual issues will be affected? The main reason I trade NYSE is so I can develop LOW RISK ideas. I'd hate to see NYSE volatility go the way of NAZ...
the open book updates right away unless the server or software happens to be slow for whatever reason. if the specs say 10 seconds so be it. maybe they have a reason for saying that but i use the book all day everyday and there is no delay of ten seconds. the only reason i have it is because i can see orders updating right away in stead of waiting for the specialist to refresh his quote.
Just to be clear, you're saying that you see more than one update every 10 seconds to the NYSE OpenBook display? If you send three orders at different prices, 1 second apart, you'll see 3 updates, 1 second apart? According to the NYSE spec, it only updates every 10 seconds, unless it's changed recently and they haven't told anyone about it. I subscribe through IB, and I see 10-second updates.
if i place a limit order it shows up right away not ten seconds later. i use reuters like many pro traders in nyc. i dont want to be a jerk but it seems as if i am repeating myself. IT UPDATES WITHOUT DELAY ON BOTH REUTERS AND BLOOMBERG OPEN BOOKS! i dont care what the specs say i never even read them. i use the books first hand. reuters has open books for nyse, island, arca, inca & redi in one panel.
I would like to add the possibility that they are saying 10 seconds just to cover their ass in case things get delayed. 10 seconds is probably their guaranteed time and a maximum. After all they wouldn't say 10 seconds unless that was a conservative number, otherwise they might get sued. It may be that those with a high quality network connection in the nyc area and fast machines will get updates much quicker than that. There is no way for any of us outside of the system to ever really know anyway. It isn't worth arguing about.
dot hits the nail right on the head. 10sec delay spec is more than likely there to cover thier ass. i do have very fast connections and all the premium tools in nyc. if anyone is interested in cheap rates, lightning fast executions and one touch bullet executions let me know. i run a desk. p.s. please dont ask me what a bullet is. sorry but please search the elitetrader boards for that.