NEW YORK – The New York Stock Exchange on Friday asked the Securities and Exchange Commission for a partial delay in adopting new trading rules that interconnect markets to give investors the best price.
NYSE Group Inc. said it is ready for the official adoption of the new securities law, called Reg NMS, on Monday. The law is designed to even the playing field among U.S. exchanges, and require all trades be routed to whichever platform offers the best price.
However, the Big Board said it needs more time to sync with alternative display facilities, which are platforms that specialize in after-hours trading. They include Direct Edge, LavaFlow Inc., and Track Data Securities Corp.
It also needs more time to connect with the International Securities Holdings Inc., which is in the midst of rolling out its equities trading.
None of those trading platforms are plugged into the broadly used Intermarket Trading System, which is what the NYSE and other major exchanges use to route orders.
Shares of ISE fell 73 cents to $45.03. NYSE Group rose $1.30 to $83.
