19 August 2017
Find out more

Nyse Arca adds self-trade prevention modifiers

10 July 2009  |  2783 views  |  0 Source: Nyse Euronext

Nyse Arca, the all-electronic U.S. equities exchange of Nyse Euronext (NYX), today announced the launch of four Self-Trade Prevention (STP) modifiers for Nyse Arca equities customers.

Designed to prevent unintended interaction between the same Exchange Traded Permit IDs (ETP ID), STP modifiers allow customers to voluntarily restrict their orders from executing with their same ETP ID.

"Through these modifiers we have further enhanced NYSE Arca's trading technology to allow customers to utilize our market even more efficiently," said Paul Adcock , NYSE Arca Executive Vice President. "This smart order handling functionality is just another illustration of NYSE Euronext's dedication to creating a highly efficient and competitive marketplace for all participants."

The new technology will include the following modifiers:

STP Cancel Newest (STPN)
An incoming order marked with the STPN modifier will not execute against opposite side resting interest marked with any of the STP modifiers from the same ETP ID. The incoming order marked with the STPN modifier will be cancelled back to the originating ETP ID. The resting order, which otherwise would have interacted with the incoming order by the same ETP ID, will remain on the NYSE Arca Book.

STP Cancel Oldest (STPO)
An incoming order marked with the STPO modifier will not execute against opposite side resting interest marked with any of the STP modifiers from the same ETP ID. The resting order, which otherwise would have interacted with the incoming order by the same ETP ID, will be cancelled back to the originating ETP ID. The incoming order marked with the STPO modifier will remain on the NYSE Arca Book.

STP Decrement and Cancel (STPD)
An incoming order marked with the STPD modifier will not execute against opposite side resting interest marked with any of the STP modifiers from the same ETP ID. If both orders are equivalent in size, both orders will be cancelled back to the originating ETP IDs. If the orders are not equivalent in size, the equivalent size will be cancelled back to the originating ETP IDs and the larger order wir will be decremented by the size of the smaller order with the balance remaining on the NYSE Arca Book.

STP Cancel Both (STPC)
An incoming order marked with the STPC modifier will not execute against opposite side resting interest marked with any of the STP modifiers from the same ETP ID. The entire size of both orders will be cancelled back to originating ETP ID.

While ETP Holders may elect to add the STP modifiers to orders at the ETP ID level, modifiers must be present on both the buy and sell order in order to effect a cancel instruction. Also, incoming STP orders cannot cancel through resting orders that have price and/or time priority. All STP modifiers are in accordance with the Order Ranking and Display process pursuant to Exchange Rule 7.36.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
8043 views comments | 22 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7415 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
6269 views comments | 10 tweets | 7 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
6132 views 1 | 5 tweets | 3 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5978 views comments | 11 tweets | 9 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job