Whether the American Stock Exchange's plans for a part-open-outcry, part-electronic model will satisfy the rule remains to be seen.
We have demonstrated our commitment to using technology when appropriate to enhance our open-outcry markets and better serve our members and customers.
Electronic exchanges are threatening the survival of open-outcry futures trading as practiced by the CBOT and its crosstown rival, the Chicago Mercantile Exchange.
Like many others who once made their livings trading in one of Chicago's many open-outcry exchanges, Harris has moved "upstairs, " and now trades exclusively by computer.
While originally designed to protect regional exchanges from the NYSE, in practice it has protected the NYSE, with its floor-based open-outcry trading system, from new electronic exchanges.
It does give Nymex, which is planning on an initial public offering later this year, a critical boost in electronic trading to complement its traditional open-outcry floor-trading model.
The facility is already obsolete: Electronic exchanges are threatening the survival of open-outcry futures trading as practiced by the CBOT and its crosstown rival, the Chicago Mercantile Exchange.
Privately, however, SIA attendees say what the merger really represents is the beginning of the end of the open-outcry auction system that makes NYSE and some other exchanges unique.
Harris also helped develop computer trading systems that seem certain to doom the open-outcry system for good, though the exchange is preserving both systems as long as demand is there.
It'd be hard to find a hotter stock than the Chicago Mercantile Exchange, the world's largest open-outcry derivatives market that some have called the " Google " of the financial sector because of its high-flying price surge.
"While Jump got its start on the trading floor in the open-outcry environment, we are now fully committed to taking advantage of the opportunities offered by electronic trading, " the partners say on the Jump Trading Web site.
It'd be hard to find a hotter stock than the Chicago Mercantile Exchange (nyse: CME - news - people ), the world's largest open-outcry derivatives market that some have called the " Google " of the financial sector because of its high-flying price surge.
The closure was the first in the 40-year history of open-ended property funds and prompted an outcry.
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He asked for a show of hands: Who wants to set a date to begin side-by-side electronic trading with open outcry?
Day-trading speculators in the pits who depend on open outcry for their livelihood aren't about to vote themselves out of a job.
In 1998 the institution's board voted to allow its biggest volume-getter, 30-year U.S. Treasury futures, to trade electronically alongside open outcry.
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