NYSE Announces New Trading Platform: Pillar
The Pillar platform debuts in the second half of 2015 and will allow firms to connect to assorted NYSE markets.
Traders Magazine Online News, January 29, 2015
Phil Albinus
In an e-mail sent this afternoon, NYSE Group announced a new trading platform to be named Pillar will be rolled out in the second half of 2015. According to the press statement, Pillar will be "an integrated trading technology platform that will enable you to connect to all of our equities and options markets using a single specification."
The press statement added that "Pillar has been designed to reduce complexity, while enhancing consistency, performance and resiliency."
The rollout is slated to begin in the second half of 2015.
NYSE promised that Pillar will allow users to connect to each of its markets, namely NYSE, NYSE MKT, NYSE Arca, NYSE Arca Options, NYSE Amex Options, Global OTC and NYSE Bonds, This will also allow users to use "a single specification and will include new gateways and matching engines."
NYSE also claims that the Pillar technology will offer "More efficient processing; shorter time to market for ongoing enhancements; and simplified, harmonized order types, terminology and messaging across all of our markets."
NYSE Arca Equities will be the first market to migrate to Pillar during the third quarter of 2015.
According to NYSE:
During the first phase of implementation, you will continue to connect to existing NYSE Arca gateways as the new technology is deployed across our matching engines. The second phase, in the fourth quarter of 2015, will include the introduction of new customer gateways and connectivity. You will be required to write to the new protocols as well as establish new connectivity to NYSE Arca.
We will provide you with detailed information well in advance of each stage to help you best prepare for this transition. Our next email update will come in February, including links to detailed materials designed to support the transition.
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
~ Thomas Sowell
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