From the press release issued this morning:

NYSE… has reduced the time it takes to execute an order to five milliseconds from 105 milliseconds, with the implementation of the new NYSE Super Display Book system (SDBK) for processing orders. As a result, NYSE customers are experiencing trade executions and reports within five milliseconds, as well as order and cancellation acknowledgments in just two milliseconds.

NYSE SDBK replaces the well-known SuperDOT order delivery and processing system – which for 33 years was synonymous with electronic trading – as well the Post Support System, which routed orders to the trading floor. NYSE SDBK is a server-based system based on NYSE Arca’s industry-leading trading engine, providing much greater throughput, flexibility and scalability as well as lower operating costs compared with the mainframe platform that supported SuperDOT.

“We have improved system latency to the single digits today from 350 milliseconds in 2007,” said Louis G. Pastina, executive vice president, NYSE Operations. “NYSE customers can now access our market with greater speed and assurance, and their orders will be delivered and executed more efficiently than ever. For the first time on NYSE, customers can employ the benefits of competitive speed and automation in addition to our longstanding value of high-touch price discovery on the only U.S. exchange cash equities trading floor.”

The NYSE SDBK rollout took three months, and completes an ambitious systems re-architecture project that NYSE initiated just 18 months ago. Since then, NYSE has completely replaced its order entry, order database and routing systems, market data systems and components of its post-trade system. To accomplish this, NYSE has leveraged leading technologies gained through recent mergers and acquisitions, including systems from NYSE Arca, Wombat (now part of NYSE Technologies) and Euronext.

The NYSE SDBK implementation also closely follows the successful implementation of enhancements to the NYSE market model, including incenting the provision of greater liquidity from a broader array of market participants. Additionally, NYSE Amex cash equities will complete their move to NYSE SDBK in August. Later this year, NYSE Euronext’s Universal Trading Platform – already successful in the company’s European equities and fixed-income markets – will be rolled out to NYSE and NYSE Amex as well as NYSE Arca, bringing yet another boost to transaction speed.