Buy side optimistic on NYSE's hybrid proposal

NEWS ANALYSIS | E-TRADING | LIQUIDITY AND PRICING IMPROVEMENTS ON THE CARDS FOR BUY SIDE

NEW YORK – A proposal by New York Stock Exchange (NYSE) chief executive John Thain to incorporate greater use of institutional electronic trade execution alongside the standard specialist outcry system at the exchange has been met with cautious optimism by some investment managers.

Thain's hybrid market initiative proposal, which requires approval by the Securities and Exchange Commission (SEC), would expand use of the NYSE's Direct+ electronic trading system – which currently executes 10% of the

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