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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (9635)	12/12/2001 2:01:00 PM
From: LPS5	Read Replies (1) of 12617

NYSE Gets SEC Nod on Plan to Distribute Limit Orders New York, Dec. 12 (Bloomberg) -- The U.S. Securities and Exchange Commission approved a New York Stock Exchange plan to publicly post limit orders, which are requests to buy or sell stock at set prices, the Big Board said. The world's largest equity market will publish its limit orders through market data vendors in a service called NYSE OpenBook. It goes into effect January 24 and will be updated every 10 seconds. The product is intended to provide traders with a better sense of supply and demand in specific shares. Since U.S. markets introduced penny pricing earlier this year to replace fractions, stocks began trading at 100 ``price points'' per dollar, instead of 16, typically used in smaller orders. The Big Board currently distributes the last sale price and the best prices to buy and sell along with the number of shares at those prices. ``NYSE OpenBook responds to the demand of broker-dealers and institutional investors for depth-of-market data,'' NYSE group executive vice president Robert Britz said in a statement. © Copyright 2001, Bloomberg L.P. All Rights Reserved.

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