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

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From: TFF	11/2/2006 2:37:50 PM
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NYSE says automated trading is up after Hybrid launch Thu Nov 2, 2006 9:33am ET NEW YORK, Nov 2 (Reuters) - A month after rolling out its Hybrid Market, the New York Stock Exchange (NYX.N: Quote, Profile, Research) has seen a sharp increase in automated trading, the exchange said on Thursday. Of the 109 NYSE-listed stocks trading on the Hybrid Market, 99 percent of quotes were automatically accessible and 91 percent of trades were auto-executed, up from 29 percent pre-Hybrid. Launched on Oct. 6, the system combines an expanded electronic platform with the top U.S. stock exchange's traditional floor-based "specialist" traders, raising prior ceilings on electronic trading. The Big Board said on Tuesday it would consolidate trading operations from five rooms to four over the next 18 months. The Hybrid Market, which anticipates upcoming regulations, was seen by analysts as a precursor to floor count reductions.

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