{"id":1091,"date":"2012-07-12T17:49:06","date_gmt":"2012-07-12T17:49:06","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/07\/nyse_proposal_for_retail_order"},"modified":"2022-03-09T16:20:26","modified_gmt":"2022-03-09T22:20:26","slug":"nyse-proposal-for-retail-order","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nyse-proposal-for-retail-order\/","title":{"rendered":"NYSE Proposal for Retail Order Execution Pilot Program Gets SEC Approval"},"content":{"rendered":"

\t\t\t\tThe Securities and Exchange Commission has approved the New York Stock Exchange LLC and NYSE Amex LLC proposal for a pilot program that lets them set up for one year a private trade execution venue for retail investors. The “retail liquidity program” will go up against internalizing brokerage firms for retail order flow while offering price improvements at mere fractions of a penny. (Currently retail brokers send most of their orders through broker dealers that internalize or execute them in over-the-counter markets instead of bilateral exchanges.)<\/p>\n

According to NYSE Euronext (NYX), the program will be implemented on the NYSE MKT and NYSE on August 1 and is complimentary to the trade execution options that currently exist for retail investors. The program is for direct use by retail brokerages and market intermediaries that work with retail order flow providers. <\/p>\n

In a release issued last week, NYSE Euronext executive vice president Joseph Mecane said that giving improved prices for retail orders in an exchange environment lets individual investors afford new economic incentives while creating greater liquidity, transparency, and competition through the US cash equities marketplace. The program will set up two new market participant classes at NYSE exchange: 1) retail member organizations that will turn in retail orders to the exchanges and 2) retail liquidity providers that will have to give price improvements as interest that is more competitively priced than the exchange’s best protected bid\/offer as a tradeoff for specific economic benefits. A NYSE member can qualify as a liquidity provider by obtaining approval as a market maker or supplementary liquidity provider on the exchange, while demonstrating that it can meet retail liquidity provider requirements. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Securities and Exchange Commission has approved the New York Stock Exchange LLC and NYSE Amex LLC proposal for a pilot program that lets them set up for one year a private trade execution venue for retail investors. The “retail liquidity program” will go up against internalizing brokerage firms for retail order flow while offering […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3740],"tags":[],"class_list":["post-1091","post","type-post","status-publish","format-standard","hentry","category-miscellaneous"],"yoast_head":"\nNYSE Proposal for Retail Order Execution Pilot Program Gets SEC Approval — Investor Lawyers Blog — July 12, 2012<\/title>\n<meta name=\"description\" content=\"The Securities and Exchange Commission has approved the New York Stock Exchange LLC and NYSE Amex LLC proposal for a pilot program that lets them set up — July 12, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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