NYSE’s trading system gets set for speedy make over

The iconic New York Stock Exchange is at long last upgrading the systems of its flagship trading venue, according to a report by The Wall Street Journal

As per the report, the upgrade — dubbed Pillar — will be implemented over the next three weeks in different phases. The upgrade, which aims to improve processing speed for NYSE-listed stocks, could help it regain market share among the crowded market for alternative trading systems and exchanges. 

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The goal is to bring the processing time down from an average 120 microseconds to 40 microseconds, according to The Journal. NYSE's market share has dipped from close to 40% of U.S. equity trading in 2008 to around 22% in 2019.

The roll-out of Pillar has been in the works since 2015, but a number of, mostly minor, glitches has pushed its full implementation back.

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