Anyone know if rebates will be offered on these? Either way, I have to assume that the daily volumes on these will spike higher right off the bat.
NYSE Trader
NYSE to Activate Sub-Penny Trading
21 Jan 2010
On February 1, the NYSE and NYSE Amex will begin accepting, displaying and executing limit and stop orders priced less than $1 entered in sub-pennies without rounding such prices to the nearest whole penny. Pursuant to Regulation NMS Rule 612, orders priced equal to or greater than $1 entered in sub-pennies will continue to be rejected, as will limit and stop orders priced under $1 in increments smaller than $0.0001.
The NYSE and NYSE Amex will also display these sub-penny priced orders in the NYSE and NYSE Amex OpenBook products.
This functionality will be implemented across all NYSE and NYSE Amex securities in a phased approach over the course of several weeks. As stocks are made eligible for sub-penny trading, they will be published to the NYSE Equities References page.
Please see the technical document linked below for further details.
Trading Technology Memo
-------------------------
Can you say rise of the Machines? lol
NYSE Trader
NYSE to Activate Sub-Penny Trading
21 Jan 2010
On February 1, the NYSE and NYSE Amex will begin accepting, displaying and executing limit and stop orders priced less than $1 entered in sub-pennies without rounding such prices to the nearest whole penny. Pursuant to Regulation NMS Rule 612, orders priced equal to or greater than $1 entered in sub-pennies will continue to be rejected, as will limit and stop orders priced under $1 in increments smaller than $0.0001.
The NYSE and NYSE Amex will also display these sub-penny priced orders in the NYSE and NYSE Amex OpenBook products.
This functionality will be implemented across all NYSE and NYSE Amex securities in a phased approach over the course of several weeks. As stocks are made eligible for sub-penny trading, they will be published to the NYSE Equities References page.
Please see the technical document linked below for further details.
Trading Technology Memo
-------------------------
Can you say rise of the Machines? lol