The Gateway to Algorithmic and Automated Trading

NYSE plans 'speed bump' for NYSE MKT

First Published 26th January 2017

New York Stock Exchange to introduce 350 microsecond delay on NYSE MKT.

Tom Farley, NYSE

Tom Farley, NYSE

New York - Having previously vigorously opposed the successful application by rival exchange IEX to introduce a speed bump, the New York Stock Exchange is now making its own application for a 350 microsecond delay on NYSE MKT, the market for small to mid-cap companies, which, following regulatory approval, is to be rebranded as NYSE American.

In it's Outlines 2017 Market Equity Strategy, the exchange said it will now: "File rules with the SEC for new features that promote midpoint trading, including a 350 microsecond delay upon order entry, proprietary data and outbound routing, as well as a Discretionary Pegged Order."

Tom Farley, NYSE President said: "We recognize certain market models are appropriate for ETFs or less liquid securities, and we are excited to provide our customers with more choice in how they list, invest and trade."