Rule 15 Pre-Opening Indications Changes Effective on 03/24/08
Effective March 24, 2008, the NYSE has amended Rule 15 to: 1) Utilize the previous day’s closing price on the NYSE in arranging opening transactions instead of the consolidated close; 2) Utilize the relevant price of the underlying security traded on its primary foreign market when arranging opening transactions for ADRs; and 3) Revise the price change parameters.
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Upcoming CMS Release Will Provide DBK Link ID on All Execution Reports
The next CMS software release is scheduled for cutover at the end of March 2008. As part of the new enhancements, the Display Book (DBK) Link ID will be provided on all NYSE execution reports and Execution Report Correction (ERC) messages, as well as report drop copies sent to the Member Firms
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Incentive Based Floor Broker Order Pricing Launches on 03/03/08
Beginning on March 3, 2008 the Exchange will introduce incentive based pricing for orders that originate from NYSE floor brokers and add liquidity to the market. The $0.04 per 100 shares credit will be applied to executions when floor brokers use e-Quotes, DOT or Percentage orders to add liquidity to the market. The Exchange believes that this will continue to encourage posted liquidity, which ensures deeper markets and better prices.
Floor Operations Information Memo
Rule Filing SR-NYSE-2008-15
Thursday, March 27, 2008
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