NYSE system significantly reduces trade times

NYSE Euronext implemented an order-processing system that allows trade times to fall from 105 milliseconds to five milliseconds. While the change is substantial, rivals, such as Nasdaq OMX and BATS Exchange, still outpace NYSE Euronext. "For [competitors] who have come into the market recently, the barriers of competition are low, so they can come in with the newest technologies and without a lot of the constraints of running a big market," said Louis Pastina, head of NYSE Operations. "This allows us to be very competitive, on a latency basis, with most of our competition."

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