NYSE Pillar

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Pillar is the new trading platform NYSE Group began to launch on February 22, 2016. The launch was originally set for the third quarter of 2015 but was delayed. The exchange began the migration with NYSE Arca; the other markets owned by NYSE Group Inc., including the New York Stock Exchange, will get the technology much later, with the final market likely to adopt Pillar in 2017.[1]

Three symbols began trading on NYSE Arca Equities at 7 a.m. February 22, after tests the previous Saturday. The exchange's migration schedule says that 183 symbols will trade on the new technology by February 25. By March 16 the matching engine is expected to have migrated 8,066 symbols.[2]

In a press release announcing the launch, NYSE said Pillar will be "an integrated trading technology platform that will enable you to connect to all of our equities and options markets using a single specification." It promises more efficient processing; a shorter time to market for ongoing enhancements; and simplified, harmonized order types, terminology and messaging across all of NYSE's markets.[3]

Pillar will allow users to connect to each of the NYSE Group's markets: The New York Stock Exchange (NYSE), NYSE MKT, NYSE Arca, NYSE Arca Options, NYSE Amex Options, Global OTC and NYSE Bonds. NYSE Arca Equities will be the first market to migrate to Pillar during the third quarter of 2015.[4]

NYSE started introducing its current system, called the Universal Trading Platform, more than five years earlier. [5]