NYSE cuts order execution time to 5 milliseconds

The New York Stock Exchange (NYSE), a subsidiary of NYSE Euronext (NYX), 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.

"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."