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December 5, 2006

NYSE gets clearance to go electronic

New York Stock Exchange operator NYSE Group has received final approval from the US Securities and Exchange Commission to convert all of the exchange's listings to electronic trading.

By CBR Staff Writer

The exchange has already begun expanding the rollout process for its NYSE Hybrid Market system and expects to complete the process in early January 2007. All eligible NYSE-listed issues will be available for trading in the hybrid market once the rollout is finished.

The hybrid system is said to combine the benefits of specialist and floor broker expertise with the increased speed and certainty of electronic executions to offer consumers a new level of choice. NYSE Group hopes that the new system will enable the exchange to better compete against rivals such as the Nasdaq Stock Market.

NYSE Group said that it will announce securities added during the rollout process on the NYSE’s website as they enter the system.

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