Commentary

David Weisberger
Traders Magazine Online News

Stop the BS & Promote Real Transparency!

In this shared blog, David Weisberger says a recent WSJ article is wrong and that traders do need to purchase faster and more comprehensive market data to avoid being fined for violating "Best Execution" obligations.

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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.