New York Stock Exchange

1
New York Stock Exchange

• Market Data Update

June 10, 2004
2
Agenda

• Customer service Market data administration
• Deidre Quinn
• New Information Products
• Mark Schaedel

3
New York Stock Exchange

• Market Data Operations

Presented by Deidre Quinn June 10, 2004
4
Customer Satisfaction
Accurate Invoicing
Fast Access to Products
People Systems Policies
Rapid Problem Resolution
Usable Information
5
Information Flow
User
Contract
Contract
Vendor
NYSE
Setup and Approval
6
Information Flow
User
Contract Invoice/Payment
Contract
Vendor
NYSE
Setup and Approval Reporting
7
Data Feed Request Website January 2000
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Upcoming Online Exhibit A wizard
Data Feed Status
8
Prior Approval Website August 2003
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
Time-to-market for -- 2 days to 7 minutes
STP of account information
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Vendor access to info. detail
Vendor access to info. detail
9
Prior Approval Website August 2003
10
Prior Approval Website August 2003
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
Time-to-market for -- 2 days to 7 minutes
STP of account information
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Vendor access to info. detail
Vendor access to info. detail
Upcoming Subscriber extranet
11
Vendor Reporting Website/VRXML
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
Time-to-market for -- 2 days to 7 minutes
STP of account information
Inventory based reporting
Reporting error recognition
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Vendor access to info. detail
Vendor access to info. detail
Complete reporting history
Complete reporting history
12
VRXML

• Developed by NYSE
• Managed by FISD as an industry standard
• Used by exchanges, vendors and users
• Adoption continues but is slower than expected
• Programming required by vendors
• Reconciliation required prior to initial use for
  NYSE

13
Vendor Reporting Website/VRXML
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
Time-to-market for -- 2 days to 7 minutes
STP of account information
Inventory based reporting
Reporting error recognition
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Vendor access to info. detail
Vendor access to info. detail
Complete reporting history
Complete reporting history
Upcoming Electronic invoices, credit card
payment
14
Customer Service Website June 2002
Accurate Invoicing
Fast Access to Products
Time-to-market -- 3 months to 3 weeks
STP of account information
Time-to-market for -- 2 days to 7 minutes
STP of account information
Inventory based reporting
Reporting error recognition
People Systems Policies
Rapid Problem Resolution
Usable Information
Vendor access to info. detail
Account manager access to info. detail
Vendor access to info. detail
Vendor access to info. detail
Complete reporting history
Complete reporting history
Electronic access to information by all parties
All parties have access to correspondence
Upcoming Reduce the number of inquiries
15
Future Direction

• Continue customer service enhancements
• Credit card billing
• Electronic invoicing
• Subscriber extranet
• Ensure compliance with administrative policies
• Unauthorized subscribers
• Delinquent reporting
• Entitlement reports
• Non-payment

16
Operations Questions

• MISU
• Billable internal device policy
• Usage Capping of professionals

17
New York Stock Exchange

• New Information Products

Presented by Mark Schaedel June 10, 2004
18
NYSE Information Products
Real-time Datafeeds
End of Day/Historical

• NYSE OpenBook TM
• LiquidityQuote TM
• MDX

• TAQ - Daily TAQ (FTP), Monthly TAQ (DVD)
• OpenBook Replay
• Corporate Actions
• Closing Prices
• Short Interest
• Volume Recap
• MDX Replay
• Reference Data
• Master File
• Post Locations

19
NYSE OpenBookTM

• Launched in January 2002
• Aggregate limit order interest at every price
  point
• 67 vendors / 2200 firms
• Refresh Methodology

20
NYSE OpenBook in real-time

• Slated for late 3rd Qtr
• Will be launched in parallel with current
  product
• No plans to sunset current 5-second product
• Requires SFTI Connection gt T1

21
NYSE OpenBook in real-time
Projected
22
NYSE LiquidityQuote (NYLQ)
LiquidityQuote is a firm quote which includes the
size at the Best Quote, Limit Order Book interest
(shown here), interest from the trading floor,
and the principal interest of the Specialist.

• Launched June 2003 Dow 28
• 6 ETFs added 2004
• Packaged with OpenBook
• Real-time, firm
• Inclusive of Best Quote Size, Book, Crowd and
  Specialist interest
• Pilot Continues

23
NYSE Broker Volume

• Launched 4th Qtr 2002
• T1 and monthly rankings of
• executed volume by entering firm
• Available through NYSE's website as
• a finished report or as raw database
• Reports can be created for a stock,
• index, custom grouping or sector

24
Market Data Xpress (MDX)

• Components
• Pre-Opening Indications
• MOC Imbalances
• Delays/Halts
• Xpress Quotes

• Description
• Real-time datafeed launched in 1999 to support
  the Institutional Xpress initiative.
• No fees, available via direct CAP connection
• FIX formatted messages

25
NYSE Alerts

• Vendor Redistribution
• Web Service Alerts

• Common PDP Format
• MOC Imbalances
• Pre-Opening Indications
• Halts/Delays
• Collars/Circuit Breakers

26
NYSE Best Quote

• NYSE Quote Feed in PDP Format
• Synchronized with OpenBook/NYLQ
• Timestamps/Milliseconds
• Xpress Indicators

27
Other Initiatives

• NYSE Trade Feed
• Openings and Closings
• Intraday Broker Volume
• MDDL adoption
• Web Services