NYSE's Next-Generation Trading Floor Makes Pushing and Shoving a Thing of the Past
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The first phase of the New York Stock Exchange's (NYSE: NYX) next-generation trading floor went live on Monday, as traders can now take advantage of the NYSE's blend of high-tech, high-touch trading from workspaces that have seen a custom redesign.
The new design will give traders access to modern, seated workspaces that will offer room for multiple computer screens. This will replace the wooden booths that were crowded close together that had brokers standing side-by-side with assistants.
Market participates may be disappointed to the see that the elbow to elbow trading on the NYSE is going the way of the dodo bird, but the new trading floor will be more effective and efficient.
"We're creating an environment where brokers can serve customers in multiple markets and multiple asset classes – more efficiently and effectively – right from the NYSE trading floor," said NYSE Euronext Chief Operating Officer Lawrence Leibowitz. "Our member firms see this as an opportunity to integrate their off-floor and on-floor operations, and locate them at the central point of liquidity and price discovery."
Brokers will also be able to use the same systems and personnel on and off the trading floor, as the system will provide a more expansive network that will support member's firms own applications along with the NYSE broker applications.
The project has streamlined the large circular desks on the floor, along with the updated wallboards being upgraded into high-definition, color flexible-content displays.
Once the construction project is completed, the project will yield nearly 200 workspaces along the east and west walls of the trading floor. The project is set to be completed by the end of 2010. Discussions have taken place about extending the construction into the room of the trading floor known as "the garage."
Currently, there are approximately 100 NYSE broker firms, which account for roughly 60 percent of the daily NYSE trading activity as of January 2010. In addition, 60 percent of the broker firms have the ability to trade in other venues and financial products from the NYSE floor.
The new design will give traders access to modern, seated workspaces that will offer room for multiple computer screens. This will replace the wooden booths that were crowded close together that had brokers standing side-by-side with assistants.
Market participates may be disappointed to the see that the elbow to elbow trading on the NYSE is going the way of the dodo bird, but the new trading floor will be more effective and efficient.
"We're creating an environment where brokers can serve customers in multiple markets and multiple asset classes – more efficiently and effectively – right from the NYSE trading floor," said NYSE Euronext Chief Operating Officer Lawrence Leibowitz. "Our member firms see this as an opportunity to integrate their off-floor and on-floor operations, and locate them at the central point of liquidity and price discovery."
Brokers will also be able to use the same systems and personnel on and off the trading floor, as the system will provide a more expansive network that will support member's firms own applications along with the NYSE broker applications.
The project has streamlined the large circular desks on the floor, along with the updated wallboards being upgraded into high-definition, color flexible-content displays.
Once the construction project is completed, the project will yield nearly 200 workspaces along the east and west walls of the trading floor. The project is set to be completed by the end of 2010. Discussions have taken place about extending the construction into the room of the trading floor known as "the garage."
Currently, there are approximately 100 NYSE broker firms, which account for roughly 60 percent of the daily NYSE trading activity as of January 2010. In addition, 60 percent of the broker firms have the ability to trade in other venues and financial products from the NYSE floor.
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