[13740]
July 18, 2001
TO: EQUITY MARKETS ADVISORY COMMITTEE No. 24-01
RE: NYSE PROPOSED RULE CHANGE AMENDING XPRESS QUOTE AND ORDER
PARAMETERS
The Securities and Exchange Commission has published for comment a proposed rule
change filed by the New York Stock Exchange1 to decrease the minimum number of shares
required for XPress quotes and orders and to decrease the time that a published bid or offer
must remain at the same price to become XPress eligible. In particular, the proposed rule
change would (1) reduce the minimum size of an XPress quote from 25,000 shares to 15,000
shares; (2) reduce the time period for designation as an XPress quote from 30 seconds to 15
seconds; and (3) reduce the minimum size of an XPress order from 25,000 shares to 15,000
shares.
Comments on the proposed rule change are due to the SEC no later than August 8,
2001. If you have any comments you would like the Institute to consider including in its
comment letter, please provide them to Ari Burstein by phone at (202) 371-5408, by fax at
(202) 326-5839, or by e-mail at aburstein@ici.org no later than July 31.
Ari Burstein
Associate Counsel
Attachment
Attachment (in .pdf format)
1 Securities Exchange Act Release No. 44539 (July 11, 2001), 66 FR 37509 (July 18, 2001).