Commentary

Steve Grob
Traders Magazine Online News

The Periodic Table

Fidessa's Steve Grob has written a response to Marcus Ferber writing to ESMA condemning periodic auctions. The blog strongly criticizes Ferber's approach, and looks at the problems behind the "lit is good and dark is bad" attitude.

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April 30, 2004

A Step Into the NYSE's Future

By Gregory Bresiger

The Big Board, much maligned by competitors because it can take a reported eternity up to some 30 seconds to execute some orders, says its software will now give traders faster executions. The Big Board also says traders will have greater control because the exchange expects to expand its NYSE Direct+, which is an automatic execution service used by NYSE traders along with e-Broker handheld devices. The software expansion plan is awaiting Securities and Exchange Commission approval.

The new software could allow traders to be more flexible, putting them in a position to work orders more efficiently, pros say. The expansion would also mean that brokers and traders would be able to react more quickly to order changes and market developments, NYSE officials hope.