TRADING VENUES

NYSE expands floor trading to all US securities

All US securities will be available in 2017, including Nasdaq listed symbols and all listed exchange traded products.

By Hayley McDowell hayley.mcdowell@strategic-i.com January 11, 2017 3:40 PM GMT

The New York Stock Exchange (NYSE) has announced plans to expand its floor-based trading to all US securities, including Nasdaq listed symbols and all listed exchange-traded products.

Intercontinental Exchange - NYSE’s parent company - said the move represents plans to bring greater transparency and efficiency to the US equity markets.

“With the expansion, NYSE’s trading floor members will be able to offer their clients the benefit of parity in securities listed on other US equity exchanges,” NYSE explained.

A regulatory filing published earlier this week said NYSE will close its floor trading in favour of its Pillar technology platform.

NYSE’s Pillar platform was implemented in January 2015 and was designed “to use a single specification for connecting to the equities and options markets operated by the exchange,” NYSE said.

NYSE MKT will expand to include trading in all US securities when it moves to the electronic price/time model in the second quarter of 2017.

Chief operating officer at NYSE, Stacey Cunningham, explained the exchange is “committed to our proven market model that combines hi-tech trading capabilities with human judgment at the point of sale on our iconic NYSE trading floor.”

She added: “We believe our model consistently delivers the best trading outcomes and lowest volatility for listed companies and investors.”