Just in:
Ingdan Announces 2023 Annual Results // Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Emirati Aid Reaches Ukraine as Food Shortages Bite // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo // German Job Market Resilience Bodes Well for Economic Recovery // TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Following the Money Trail: US and UK Investigate $20 Billion in USDT Transfers Tied to Sanctioned Russian Exchange // Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Global Audience to Witness Thrill of Dubai World Cup // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Universal Language for Healthcare: General Authority Embraces Global Coding System // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update //
HomeMarketsNYSE MKT to end floor trading for small stocks

NYSE MKT to end floor trading for small stocks

efa048fc c892 11e6 9043 7e34c07b46ef

The New York Stock Exchange plans to end floor trading on its NYSE MKT venue for small capitalisation stocks in the latest example of financial dealings going completely electronic.

The move, earmarked for the second quarter, comes as NYSE prepares to transition that market to Pillar, an integrated trading technology platform designed for its equities and options markets, according to a regulatory filing.

ADVERTISEMENT

It represents another shuttering of open outcry trading, a trend that has taken place over the past decade with the rise of electronic trading. The floor of the New York Mercantile Exchange, the leading energy and metals exchange, closed at the end of 2016.

A spokeswoman for NYSE, which is owned by Intercontinental Exchange, declined to comment specifically on what the NYSE MKT closure meant for the storied main floor of the New York Stock Exchange, where the opening bell is still rung every day but the ranks of traders has shrunk dramatically over time. NYSE and ICE officials have repeatedly voiced a commitment to keeping the Big Board intact.

Formerly known as the American Stock Exchange and the New York Curb Exchange, NYSE bought its rival Amex exchange in 2008 for $260m after it failed to keep pace in the battle for dominance between NYSE and Nasdaq. For NYSE, the acquisition boosted its presence in US derivatives and exchange traded funds.

NYSE MKT has 248 stocks compared with the 2,000 symbols that trade on NYSE.

When NYSE MKT transitions to Pillar, it plans to replace its floor based designated market makers with electronic DMMs, the regulatory filing said. Floor traders for the main NYSE trading floor will not be affected.

Source link

ADVERTISEMENT

ADVERTISEMENT
Just in:
Andertoons by Mark Anderson for Thu, 28 Mar 2024 // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Sharjah Chamber Breaks Ground on Final Expansion with New HQ Pact // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Renewables Surge Sets Record, But Global Equity Lags // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // German Job Market Resilience Bodes Well for Economic Recovery // First-Ever Fortune Innovation Forum Draws Top Global Leaders to Hong Kong, Promoting Agendas On Collective Cross-Sector Advancement // Ingdan Announces 2023 Annual Results // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // Samsung Partners National Heritage Board to Bring a Slice of Singapore’s Cultural Heritage to Samsung The Frame TV // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // TUMI Hosts Global Launch Event in Singapore to Unveil Women’s Asra Collection and Announce Global Ambassador, Mun Ka Young // Global Audience to Witness Thrill of Dubai World Cup // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // Court Sides with Coinbase on Wallet Service, But Staking Program Remains in Limbo //