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

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From: Paul Kern	7/1/2009 10:58:10 AM
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NYSE Cuts Order Execution Times 20-Fold With New Trading Sys Last update: 7/1/2009 10:55:07 AM DOW JONES NEWSWIRES NYSE Euronext (NYX) said order-execution times have been slashed 20-fold at the New York Stock Exchange as it tries to regain market share lost to competitors. With the implementation of the new NYSE Super Display Book system for processing orders, NYSE customers are seeing trades executed within five milliseconds, compared with 105 milliseconds. As recently as 2007 the time was 350 milliseconds. The new system replaces the SuperDOT system, which for 33 years handled order delivery and processing, and the Post Support system, which routed orders to the trading floor. Ever-faster order execution is a key factor for many traders, especially as automated trading grabs an increasing amount of overall trading volume. The trading system revamp took three months to roll out and completes a process begun 18 months ago. Since then, NYSE has completely replaced its order entry, database and routing systems as well as market-data systems and parts of its post-trade system. The NYSE and Nasdaq OMX Group Inc. (NDAQ) have seen their market share of equity-trading volume fall in recent years as third parties continue to build a following. The BATS Exchange, approved last August, said Wednesday its market share rose in June to 10.7%. -By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com (END) Dow Jones Newswires July 01, 2009 10:55 ET (14:55 GMT)

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