NYSE Floor Trading

Our founder and Chairman, Dick Rosenblatt, spent a decade on the NYSE floor before starting our firm in 1979, and has been a pioneer and fierce advocate for institutional investors ever since. We were the first firm, for example, to facilitate direct buy-side electronic order entry on the NYSE more than 30 years ago. Today, Dick is one of just three Senior Executive Governors advising the exchange on rules and strategy. Two of the firm's other Partners serve as Governor and Executive Floor Governor. Our relationships with senior NYSE management and insight into the exchange’s market structure, operations and strategic direction help us guide clients through the sometimes Byzantine world of the NYSE. Combine that expertise with our unrivaled experience, efficiency and integrity, and it’s no wonder we have become the proven leader on the NYSE floor.

• The NYSE is different from other US exchanges. It's by far the top liquidity pool for NYSE-listed stocks, with a market share more than double that of the next-biggest exchange.
• Unlike the other, purely electronic exchanges, NYSE empowers human floor brokers with capabilities customers can't find elsewhere. And our team is the most-experienced and knowledgeable on the floor.
• Bottom line: when you're trading NYSE-listed stocks, we can give you a meaningful edge.

• Most exchanges match orders on price-time priority: the fastest traders get filled first, while others wait in line. NYSE's parity allocation system gives each floor broker a share of incoming interest at the best price, regardless of order-entry time.
• Closes the gap with speed traders on resting orders, boosting fill rates and spread capture, while minimizing adverse selection.
• And with the NYSE's biggest floor team, we ensure our clients get the full benefit of parity.

• NYSE’s “D Order” order type, available only through floor brokers, provides flexibility when trading around the closing auction. The close is by far the biggest liquidity opportunity of the day, more than doubling in volume since 2010.
• Market-on-Close and Limit-on-Close orders force traders to commit interest to the closing auction by 3:45 pm, but electronic D Orders are available until 3:59:50.
• D Orders let floor brokers physically represent client orders in the trading crowd or cancel them through the closing bell.
• D Orders give investors maximum flexibility to play in the closing auction without foregoing continuous-market liquidity.