The Liquidity Quote from the NYSE has been delayed by the SEC until at least June 6th. Direct plus will not be available until 5 days after the Liquidity Quote begins. Hopefully there will not be any delays??
Why the hell did they do it that way. I would have figured that rule was put on as a short term test until the liquidity quote went into effect. I thought initially it was only suppose to be for a weeks so when they pushed back the liquidity quote I would have assumed the same would have happen for the test. How has it effected the trading of those stocks?
a sad ass attempt for the NYSE to try some testing of the waters to see if they want to completely eliminate NX the purpose was to test the effects of no nx on liq quote for the first week, when the SEC made the NYSE hold off, the NYSE decided to leave the NX off for these stocks for obviously another reason. and it smells like its probably to see how it felt to completely eliminate nx
it changes things around if your scalping it. Definatly has cost me this past week, its funny I just called bear wagner specialists to ask them spoke to compliance and all they had to say was the liquidity quote dosent work lol
I wonder if this is a test or a step to eliminate the NX rule all together. From traderbulletin.com The NYSE is extending the test period during which it will disengage Direct+ in five test stocks until June 20, 2003. The action affects the stocks of American Express (AXP), Pfizer (PFE), International Business Machines (IBM), Goldman Sachs (GS), and Citigroup (C).