NYSE Hybrid Shrinks Turnaround Time
EXCHANGE TECHNOLOGIES
NEW YORK—The second phase of the New York Stock Exchange's (NYSE) Hybrid Market pilot program is in full swing, with the exchange reporting last week that specialist participation and average order turnaround time is down, while trading volume is up after at the conclusion of Phase I.
Since the implementation of Phase I, specialist participation has dropped from 8 percent to 7.5 percent Turnaround time decreased from 14 seconds to 9 seconds. Electronic trading accounts for 15 percent of trading
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