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NYX 360 — 10.16.2009
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This is the second weekly edition of the NYX Aggregator, but with a new name: NYX 360. I asked for suggestions about the name, and one of you stepped up: hat tip to Mark Schaedel, my MDCWIA (Market Data colleague working in Amsterdam). The new name is shorter (which is always better) and has a more global-view feeling to it. Perfect for a fast-moving, global company.
Now to it:
“A good day…for the hatmakers,” I overheard Art Cashin quip on the NYSE trading floor at the close on Wednesday, when the Dow again closed above 10,000. From MarketBeat that day, this pictorial history of the “Dow 10,000″ hats proves Art right (as usual), and this one puts the milestone in proper perspective (seen this movie before).
How will our new U.S. data center impact member firms? Read up on it here.
CEO Duncan Niederauer sees no reason to restrict high-frequency trading, Reuters reports. At the same press briefing he also says that centrally clearing over-the-counter derivative trades and tightening reporting requirements are more important than moving swaps onto listed trading platforms, Dow Jones reports.
The bad idea that never dies — that of a securities transaction tax — is under discussion again, Traders magazine reports. Read how in Sweden, even a small tax sent would-be taxpayers to other markets, and volume fell by 85 percent.
The most-viewed item on John Lothian’s metals newsletter the other day was the trailer for “FLOORED,” a movie about trading futures in Chicago.
NYSE Euronext and The Depository Trust & Clearing Corporation finalized their agreement to create an innovative new joint venture, New York Portfolio Clearing (NYPC). NYPC will be the first to bring together cash positions and their natural derivatives hedge in an open manner designed to substantially improve operational and capital efficiency as well as transparency.
A Little Rock, Ark. newspaper publisher won’t drop printed stock listings. He says he doesn’t want to give readers another reason not to pick up the paper — wow, what a concept!
NYSE Amex’s plan to trade Nasdaq stocks is “a good move for the NYSE and it’ll be good for investors to have an additional market destination providing liquidity in Tape C stocks,” Jamil Nazarali, managing director of Knight Equity Markets, tells Traders.
Conor Allen, head of R&D at NYSE Technologies, says speed is on the rise in our feed handlers, not just our exchanges.
NYSE Euronext’s Alternext market aims for more listings.
We’ve streamlined the process for getting permissioned to participate in NYSE MatchPoint and the New York Block Exchange. So if you’re not on board already, no better time to get started.
Ringing the NYSE Bell was a high point for business students at High Point University. I never cease to be amazed by the effect of visiting the trading floor on guests from every walk of life, not to mention ringing the bell.
The New York Times runs a front-page story that is more than two years old — Big Board loses market share — and misses the turnaround story going on right now. Pity that.
I demand a recount: somehow the Huffington Post’s list of hottest bell ringers failed to include your humble blogger, who has been up on the bell balcony a couple of times and is very hurt by this.
And we close the week with a tongue-in-cheek question: Did high-frequency trading kill Michael Jackson? HFT has jumped the shark as a scapegoat, says “Kid Dynamite.”
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