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From the Trading Post: Open Floor

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Patrick Armstrong
Managing Director, Prime Executions Inc.

THE CHANGE Allows approved NYSE firms to operate full-service trading desks across multiple venues and asset classes, including options, OTC and foreign securities directly from the NYSE floor

THE REASON To provide greater customer choice

THE IMPACT Nearly 50 percent of NYSE member firms operate in this manner, enriching the execution experience for their customers

Finding Liquidity

Approved NYSE floor brokers better serve their customers under a rule provision that allows them to search for liquidity in additional marketplaces. For example, when one of Armstrong’s customers wanted to sell a stock that had been delisted from NYSE, he was able to seamlessly represent his customer in alternative trading venues. “I can route and access liquidity in various marketplaces while maintaining an active point-of-sale presence at the NYSE,” Armstrong said.