Alexander Osipovich
speaker
528 appearances
11 recordings
1 series
first heard Dec 2017
last heard Feb 2025
Alexander Osipovich’s voice in public audio — every appearance, attributed to the second.
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Exactly.
A microsecond is a millionth of a second.
In the industry jargon, they talk about mics.
And the NYSE is hoping to improve the typical processing time on its main exchange to 40 mics or microseconds, as they would say.
Yes, I would say that the New York Stock Exchange does not have the best reputation technologically.
It was able to coast for a long time on the fact that it was
the big famous exchange and it was able to implement rules that essentially kind of forced trading to happen there.
But those rules have gradually gone away under pressure from the SEC among others.
And now the NYSE is in this free-for-all competition with other equities exchanges, some of which are very technologically savvy like NASDAQ.
or BATS, which has since been taken over by Cibo Global Markets, the NYSE has to up its game to be sure to be able to get market share from those other guys.
The NYSE still operates a trading floor with human beings wearing colorful jackets.
And this is a very big part of its brand and its image.
And companies go and ring the bell on the floor and so on.
The floor is integrated with the NYSE's operations, specifically for the operations of the main exchange, the one that's having this big tech upgrade this month.
But that makes the upgrade more complicated because it means that you essentially have to integrate devices used by the floor brokers with the systems that are being upgraded.
ARCA was the first of the NYSE exchanges that was upgraded to Pillar, and it was a bit of a bumpy process.
In particular, in March 2017, there was an issue where ARCA was not able to produce the 4 o'clock PM closing prices for several hundred ETFs.
ARCA is essentially the ETF platform at the NYSE.
And the 4 o'clock p.m.
closing prices are really important.
Showing 261–280 of 528 · page 14 of 27
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