The Fact Book

The NYSE published the Fact Book for years. That handy little reference book outlined the general trends in the industry and at the NYSE. I always found it to be a useful tool to see what direction things were moving in. When the NYSE decided to stop publishing that annual report, SIFMA stepped in and [...]

By |2019-10-09T08:31:53-04:00September 25th, 2019|Global Markets Advisory Group, Lou Pastina|

Latency, Order Protection, Co-Location and Fair Market Access in the Cloud

One of Reg NMS’ major tenets of Regulation NMS (Reg. NMS) is the Order Protection Rule (“OPR”), known as Rule 611. In essence, it requires that market participants adopt, maintain and enforce policies and procedures reasonably designed to avoid trading through a better priced quote published by another market center. As a practical matter, the rule [...]

By |2019-07-01T08:05:47-04:00June 26th, 2019|Cloud, Global Markets Advisory Group, Lou Pastina|