NYSE Liquidity Replenishment Points (LRP) will be introduced in production as of October 6, 2006. NYSE Liquidity Replenishment Points are a new informational tool as part of the NYSE Hybrid Market Initiative. LRP's are pre-determined price points at which electronic trading briefly converts to auction market trading. They may be triggered by an electronic sweep or if electronic trading results in rapid price movement over a short period. Because the LRP converts the market solely to an auction market on a temporary basis, it moderates volatility by permitting new orders, as well as Crowd and specialist interest, to add liquidity.
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