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Article: New NYFIX Millennium Order Type Allows Integration with Archipelago Exchange Book.
- Article from:
- PR Newswire
- Article date:
- March 15, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NYFIX, Inc. and the Archipelago Exchange (ArcaEx) today announced a joint innovation in order management functionality enabling NYFIX Millennium clients to submit pegged orders that will be represented in both NYFIX Millennium and ArcaEx simultaneously. This new order type offered by NYFIX Millennium will operate under the pseudonym of "Millennium Shadow Order". Shadow Order functionality will enable NYFIX Millennium users to enter pegged orders with a portion of the order sent to ArcaEx and displayed in the National Market System (NMS) while the remainder of the order will be matched conventionally in NYFIX Millennium.
The Shadow Order will allow NYFIX ...
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