Beginning on Monday, 22 June, NYSE will begin including trading-floor brokers' d-Quotes and pegging e-Quotes eligible to trade in the close in the NYSE closing order-imbalance information that is disseminated beginning at 3:55 p.m.
The goal is to increase transparency and provide opportunities for contra-side interest to develop, thereby decreasing volatility and ultimately contributing to the maintenance of a fair and orderly market.
d-Quotes are discretionary orders sent by brokers as agent for customers; pegging e-Quotes are orders sent by brokers that are "pegged" to the bid or offer.
Here's a memo with a fuller explanation of the change.
Have a good weekend, folks. And to all the dads out there and everyone who loves a dad, Happy Father's Day.
Saturday, June 20, 2009
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