{"id":5458,"date":"2013-02-10T08:23:51","date_gmt":"2013-02-10T12:23:51","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=5458"},"modified":"2013-02-10T08:23:51","modified_gmt":"2013-02-10T12:23:51","slug":"nyse-to-discontinue-block-trading-through-nybx-platform","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/nyse-to-discontinue-block-trading-through-nybx-platform-5458","title":{"rendered":"NYSE to Discontinue Block Trading through NYBX Platform"},"content":{"rendered":"<p>Boston, MA 02\/10\/2013 (wallstreetpr) \u2013 The New York Stock Exchange, has decided to shut down trading at the New York Block Exchange due to insufficient interest, it told regulators.<\/p>\n<p>The NYBX, will be closed from Feburary 28<sup>th<\/sup> according to a regulatory filing it made before the US Securities &amp; Exchange Commission, on February 5<sup>th<\/sup> . The block services were launched in January 2009. Under this service the exchange allows privately placed orders to NYBX to be traded on the Big Board.<\/p>\n<p>The NYBX has been operated by the New York Stock Exchange, under a joint venture with a consortium of consisting of twelve broker-dealers. The alliance is called Bids Holdings LP. A regulatory filing made this month by the NYSE Euronext (NYSE:NYX), also revealed that while both the groups jointly own majority stake in the NYBX.<\/p>\n<p>An NYSE subsidiary holds less than 10% of the limited-partnership\u2019s interest in NYSB according to a NYSE filing submitted in November.<\/p>\n<p>In the February filing the exchange asserts it is \u201cceasing operations\u201d of NYBX trading facility because even after many years of operations, the block trading service failed to garner \u201cenough volume to achieve critical mass\u201dand lacked \u201cstrong support customers\u201d.<\/p>\n<p>The Block trades usually ranges up to 10,000 shares per transaction.<\/p>\n<p>The alternative trading system of Bids (also called the dark pool) is not related to NYBX. According to Rosenblatt Securities Inc\u2019s estimate, 28.6 million shares were traded during December.<\/p>\n<p>The shares of NYSE Euronext (NYSE:NYX) were up by 0.28% to close at $36.24.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 02\/10\/2013 (wallstreetpr) \u2013 The New York Stock Exchange, has decided to shut down trading at the New York Block Exchange due to insufficient [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1483],"tags":[1590,1589],"stock_ticker":[],"class_list":["post-5458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-news","tag-nyse-euronext-nysenyx","tag-nysenvx","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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