Exchanges

CHX drops manual trading

Last Thursday the Chicago Stock Exchange (CHX) launched its fully automated trading system in which participants can submit orders from any location for immediate display. "This roll-out is the culmination of a multi-year effort to meet the requirements of Reg NMS and satisfy the growing trend towards high velocity algorithmic trading," says Dave Herron, CEO, CHX.

The trading floor will no longer be a facility used by the exchange. The floor space will remain open as a shared trading venue, available to support the operations of equity, options and features-trading customers. The new model supports the trading of all Nasdaq-listed issues, with NYSE and AMEX-listed securities in the process of being added.