ZIFFPAGE TITLENew York Stock ExchangeBy Larry Dignan | Posted 2005-03-07 Email Print
The exchange wants to automate its trading systems. But many clients prefer dealing with human specialists. How John Thain will try to reach both objectives.: Base Case">
New York Stock Exchange: Base Case
11 Wall St.,
New York, NY 10005
Phone: (212) 656-3000
Chief Technology Officer: Roger Burkhardt
Average Daily Trading Volume in 2004: 1.46 billion shares
Challenge: Expand use of electronic trading while maintaining open auction format.
- Increase percentage of electronic trading at NYSE to 20% by year-end 2006, up from 9.8%, or 159 million, of the 1.62 billion shares traded daily in January 2005.
- Be ready to roll out hybrid electronic/human exchange in 12 months.
- Cut time to complete a trade from 14 seconds, on average, to 7 seconds.