Citadel Kicks Off New Role on NYSE Floor With Promptness Push
- New changes revealed to get more stocks trading at 9:30 a.m.
- Electronic market makers like Citadel rule the historic floor
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Citadel Securities only recently set up shop on the floor of the New York Stock Exchange, but it’s already pushing for changes.
Unlike its two main rivals in stock trading, Nasdaq Inc. and Bats Global Markets Inc., getting shares open for the day at the NYSE is a partly manual process. The perils of that approach were underscored on Aug. 24, when hundreds of NYSE-listed securities didn’t immediately open at 9:30 a.m. amid a surge in volume, causing confusion and spurring wild price swings.