NYSE Upgrades Pillar Feed with Deeper Buy-Sell Price Details
Published Date: 6/5/2025
Notice
Summary
The New York Stock Exchange is upgrading its Pillar Depth market data to show more detailed info about the top 10 buy and sell prices. This change helps traders get better, faster insights without extra cost and starts right away. Anyone using NYSE market data will benefit from this clearer, richer view of the market.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Top-10 Depth Plus Auction Imbalances
The NYSE Pillar Depth feed will include Auction Imbalance Information for all symbols listed on NYSE Texas, showing real-time order imbalances that accumulate before the opening, before any re-opening auction after a halt, and before the close. Pillar Depth already shows the ten (10) best price levels on both bid and offer sides and is updated no less frequently than once per second.
No Additional Cost For Enhanced Feed
The Exchange states the enhanced Pillar Depth product will be available to the Exchange's vendors and subscribers on an equivalent basis at no additional cost because there is no proposed change to subscription fees. Vendors and subscribers who currently receive Pillar Depth can access the enhanced content without a fee increase.
Enhanced Feed Became Operative Immediately
The Commission waived the 30-day operative delay and designated the proposal operative upon filing, which was filed on May 22, 2025, so the change may be made available immediately once the Exchange's technology is ready. The Exchange represented the technology is anticipated to be available in less than 30 days and will announce the availability date via a Trader Update.
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Key Dates
Department and Agencies
Related Federal Register Documents
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