The New York Stock Exchange will begin implementing its hybrid trading structure in November, according to Catherine Kinney, president and co-COO. At the Security Traders Association annual conference today in Boca Raton, Fla., Ms. Kinney said NYSE floor brokers will begin adopting the hybrid technology next month, followed by specialist firms. Full automatic execution capability is expected to be ready in May 2006, with the complete hybrid structure in place and functioning when new market structure regulations and trading rules take effect in June 2006.
"In early November, we'll be in full hybrid implementation" mode, Ms. Kinney said.
Separately, the combined NYSE-Archipelago entity NYSE Group Inc. will eventually seek to trade Nasdaq stocks on the floor of the Big Board, Jerry Putnam, CEO of NYSE merger partner Archipelago Holdings, said at the STA conference. "You have to get the technology down there, and you have to regulate it."
He did not indicate exactly when Nasdaq stocks would be traded on the NYSE floor.