Differences

This shows you the differences between two versions of the page.

--- nyse [2019/10/01 11:00] – [Auction Mechanisms] maya
+++ nyse [2024/08/20 09:30] (current) – hammed
@@ Line 21: / Line 21: @@
   * Reserve Limit Buy/Sell→ShortSell (Day)
   * Stop Limit Buy/Sell→ShortSell (Day)
-==== Available ATS ====
-  * ARCX: NYSE Arca
-  * ATD: Automated Trading Desk Dark Pool
-  * BARC: Barclays Capital Dark Pool
-  * BATS: BATS
-  * BIDS: BIDS Dark Pool
-  * BLOC: BLOCK Dark Pool
-  * BOFA: Bank of America Dark Pool
-  * BATY: BATS-Y Exchange
-  * CBSX: CBOE Stock Exchange
-  * CCG: NYSE Common Customer Gateway
-  * CSD: Credit Suisse Crossfinder+
-  * CUTN: Cuttone
-  * DARK: Consolidated Dark Pool
-  * DBA: Deutsche Bank Dark Pool
-  * EDGA: Direct Edge
-  * EDGX: Direct Edge
-  * FIDE: Fidelity Dark Pool
-  * GETC: Getco Dark Pool
-  * IEX: IEX
-  * KNGM: Knight Capital Group
-  * LEVL: LEVEL ATS
-  * MSCO: Morgan Stanley Dark Book
-  * NQBX: NASDAQ OMX BX
-  * NQPX: NASDAQ OMX PSX
-  * NSDQ: NASDAQ
-  * NSX: National Stock Exchange
-  * NTHK: Instinet Nighthawk Dark Pool
-  * PDQ: PDQ ATS
-  * ROSN: Rosenblatt Securities
-  * SGMX: Sigma X Dark Pool
-  * SPDR: SpeedRoute Dark Pool
-  * UBS: UBS Dark Pool
 ==== Basic Market Rules ====
@@ Line 68: / Line 33: @@
 === Open ===
-The pre-opening session runs from 07:30 - 09:30. During this session, orders can be entered and cancelled but no matching will occur. At the open (09:30), all matching orders are executed at a single opening match price, with the remaining orders left on the continuous limit order book.
+NYSE book pre-opening session runs from 06:05 - 09:30 During this session, orders can be entered and cancelled. NYSE will not match orders, orders will be queued for the opening auction at 09:30, however other ATS such as NSDQ, ARCA and EDGX will match orders on basic route instruction and order types. At the open (09:30), all matching orders are executed at a single opening match price, with the remaining orders left on the continuous limit order book.
 The closing price is defined by the following closing auction mechanism.
@@ Line 91: / Line 56: @@
 The following periods affect order entry for participation in the auctions. There is continuous trading from 09:30 - 16:00, during which time regular (non-imbalance) orders will be matched.
-. **Pre-Imbalance (09:30 - 15:50)**
+**2:00 PM**
-  * Continuous trading occurs, where bids and offers may be entered, amended, or cancelled
+  * Imbalance information is published to Floor Brokers
-  * Market-On-Close (MOC) or Limit-On-Close (LOC) orders may be entered, amended, and cancelled
-  * No imbalance orders will be matched
-. **Post-Imbalance (15:50 - 16:00)**
+**3:50 PM**
-  * Continuous trading occurs, where bids and offers may be entered, amended, or cancelled
+  * Cutoff for MOC and LOC order entry, modification, and cancellation (except for legitimate error)
-  * Requests to cancel MOC, LOC, and Closing Offset Orders between 15:50 and 15:58 will be accepted only to correct a legitimate error
+  * Imbalance dissemination begins
-  * On Close order cancellation requests after 15:58 will be rejected
+  * After 3:50 p.m., MOC/LOC orders can be entered only on the contra-side of a MOC/LOC Regulatory Imbalance until 4:00 p.m.（ It is specific for NYSE native close auction orders, while floor broker orders have their own rules.）
-  * MOC/LOC Imbalance Publication and order imbalance information publication will take place starting at 15:50
-  * No imbalance orders will be matched
-. **Closing Cross Price (16:00:00)**
+**3:55 PM**
-  * Closing auction is conducted
+  * Imbalance dissemination begins, including Closing D Orders at their discretionary price range
-  * Auction imbalance orders are matched and the Closing Price is calculated
-**Order Types:** Limit-on-Close and Market-On-Close orders are eligible to participate in the Closing Auction.
+**3:58 PM**
+  * Cutoff for cancelling a MOC/LOC for legitimate error
-**New:** due to a number of changes to the NYSE Pillar program, the exchange's imbalance publication behavior is different from before. For more details, please see the following.
+**3:59:50 PM**
+  * Cutoff for Closing D Order entry, modification, and cancellation
-**Core Opening Auction**
+**4:00 PM**
-  * 08:00: imbalance publication begins
+  * Regular trading ends and auction commences
-  * Published every 1 second (if changed from the previous second) until the stock opens
-**Closing Auction**
+**Order Types:** Limit-on-Close and Market-On-Close orders are eligible to participate in the Closing Auction.
-  * 15:50: regulatory imbalance (if imbalance is >=500 round lots)
-  * 15:50: informational order imbalance publication begins to XDP, and at 14:00 to brokers
-  * Published every 1 second, until the stock closes (to reflect changes including the re-pricing of ALO and non-routable orders, and for verbal crowd interest)
 ===== Financial News/Research =====
-  * [[ http://www.cnbc.com/id/15839076 | CNBC ]]
+  * [[ https://www.cnbc.com/markets/ | CNBC ]]
   * [[ http://finviz.com/screener.ashx | Finviz ]]
-  * [[ https://www.google.com/finance/stockscreener | Google Finance ]]
+  * [[ https://www.google.com/finance/ | Google Finance ]]
   * [[ http://www.marketwatch.com/tools/stockresearch/screener/ | MarketWatch ]]
   * [[ http://screener.finance.yahoo.com/stocks.html | Yahoo! Finance ]]