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

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From: TFF7/16/2008 6:19:50 PM
   of 12617
 
NYSE Releases New Name for Amex and Systems Migration Plan

By Leslie Kramer
July 15, 2008

At the closing of the merger between NYSE Euronext and the American Stock Exchange, the name of the American Stock Exchange will be changed to NYSE Alternext U.S. On a specified date following that closing, trading in NYSE Alternext listed securities will be migrated to 11 Wall Street and integrated onto the NYSE Trading Platform. NYSE Alternext U.S. trades and quotes will be disseminated with the market center Participant ID "A" in the consolidated Market Data streams, since NYSE Alternext U.S. and NYSE will continue to be separate registered securities exchanges. Member Firms are being advised in advance so that they can prepare for these changes.

The initial phase will involve moving all Amex Equities to the NYSE Trading Platform. Amex Structured Products and ETFs will remain on the Amex Trading Platform (AEMI) for a limited period of time until they are delisted from Amex and migrated to the NYSE ARCA Trading Platform at a later point in time.

Today, the Common Message Switch (CMS) provides firms the ability to route orders, cancels, and cancel with replacement messages for Amex securities to the Amex Trading Platform in FCS protocol. The NYSE's newly introduced Common Customer Gateway (CCG) does not support FCS protocol routing to the Amex. Firms using the FIX protocol route their Amex message traffic via a direct Amex connection to the Amex Trading Platform (AEMI).

CMS will also support NYSE FIX 4.2 messages, although it is strongly recommended that firms using FIX protocol connect to CCG, as the NYSE is currently in the process of migrating all firms to CCG. There are some differences between NYSE FIX 4.2 protocol and Amex FIX protocol which will be identified and documented in a future NYSE publication.
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