In order to rival faster contenders like Nasdaq OMX, New York Stock Exchange, Euronext has slashed order-execution times by twenty-fold to five milliseconds from 105 milliseconds.

Now customers will witness trades executed within five milliseconds. Earlier in 2007, trade execution used to take 350 milliseconds. 
 
It may be noted here that these days, high-frequency trading firms gauge time by the microsecond, the one-millionth of one second.
 
With the implementation of new system for processing orders, NYSE Euronext hopes get back dominance in U.S. stock trade.
 
It is worth mentioning here that 39.9 percent of trade in so-called Tape A securities was claimed by NYSE Euronext in June, as against Chief Executive Duncan Niederauer’s aimed 50 percent market share in stocks.

On the other hand, yesterday, the New York Stock Exchange’s 1,200 floor traders were compelled to complete the closing auction manually due to network failure.

Head of U.S. markets for NYSE Euronext, Larry Leibowitz informed that the end of business was postponed until 4:15 p.m. in New York to make certain proper execution of the system.

Speaking on the topic, Larry Leibowitz further said, “Things of the order of magnitude of today are very unusual.”