New York Stock Exchange - Notice Of Filing And Immediate Effectiveness Of Proposed Rule Change To Cease Operating New York Block Exchange And Contemporaneously Delete The Text Of Rule 1600, Which Governs NYBX Functionality
The Exchange intends to cease operating New York Block Exchange (“NYBX”), effective February 28, 2013, and as such, proposes to contemporaneously delete the text of Rule 1600, which governs NYBX’s functionality.
NYBX is an electronic exchange facility that provides for the continuous matching and execution of all non-displayed NYBX orders with the aggregate of liquidity in the NYBX Facility, the NYSE Display Book® and considers the protected quotations of all automated trading centers for securities listed on the NYSE. The Exchange is ceasing operations of NYBX Facility because after years of operations the facility has not garnered enough volume to achieve critical mass and does not have strong support of customers. The Exchange will provide advance notice to its members and member organizations of the discontinuation of this functionality.
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