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Eric Stockland
Traders Magazine Online News

Incentivizing a Better Market

In this blog from IEX, the exchange announces a first-of-its-kind fee that is designed to improve all trading, including the experience of displayed orders - the Signal Fee.

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April 5, 2008

Big Board Boots BBSS

By Peter Chapman

The New York Stock Exchange is replacing key components of its infrastructure used by floor brokers. First to go is the order management system known as the Broker Booth Support System (BBSS). Then the exchange will begin a search for a new vendor of handheld computers. In February, the NYSE set up its first user on its new order management system. By the end of the year, it expects all 400 brokers to be on the new platform, according to Lou Pastina, the exchange's executive vice president of operations.

The new system uses blade and Oracle technology. No vendor has yet been chosen to supply replacements for the Fujitsu handhelds in use by floor brokers for the past 18 months. The Fujitsu handhelds are at least the fifth brand of handheld used on the floor. Replacements occur every 18 to 24 months because of the need to increase capacity to deal with ever-growing message traffic, Pastina explained.

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