Relevance Dogs NYSE Hybrid Market

FRONT PAGE: NEWS ANALYSIS

NEW YORK—When the Hybrid Market of the New York Stock Exchange (NYSE) enters its last phase in December, the NYSE Group will be facing an exchange landscape that has moved much more quickly than the creation of the electronic/floor trading hybrid under construction since 2004.

With so many other exchanges going completely electronic, industry observers wonder if the Hybrid Market—representing 250 software releases, 60 systems upgrades and 1 million lines of code—will be relevant by the time of

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