A number of you have written here that you're unhappy with how our Liquidity Replenishment Points (LRPs) work, saying that they kick in too often and can contribute to execution prices that appear out of whack. As I've noted in this space, we've been listening: here's the latest.
..."Now [the Designated Market Makers] will need to put [their] liquidity up, so that when an order comes in, it will match against liquidity that is already there, which makes for a more proactive environment," says TABB's Mizen ...
Good things are happening for brokers on the NYSE trading floor, and their customers. “These new tools will enable brokers to seamlessly blend from their hand-held devices, the high-tech functionality of speed, automation and anonymity, with the high-touch benefits of discovery, price improvement and accessing block-sized liquidity,” says my colleague Mike Rutigliano, VP-Broker Liaison.
I hadn't planned to trot out the Nasdaq Decoder Ring again so soon, but in response to a reader's question...
It is a rare person who lives up to what you imagine them to be, and more.
