In a new report, Execution Quality in the NYSE Market, Celent examines the execution quality achieved by market centers for NYSE-listed securities for the period July 1, 2008 to September 30, 2008. A total of 179 market participants covering more than 18.8 billion orders for over 7 trillion shares were measured and ranked by Octavio Marenzi, head of Celent, and Chermaine Lee, analyst with Celent’s Securities and Investments group according to the execution speed and prices.
Overall, market centers’ frequency of price improvement has increased for all types of venues since the last report, which covered the period December 2007 to March 2008. Electronic order books have gained ground by growing their share of the NYSE market from almost 25% to more than 40%. On the other hand, exchange specialists have experienced the most significant fall in market share from 65.6% to 44.4
For the full report, click here.
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