Ensuring regulatory compliance is upheld, the New York Stock Exchange (NYSE) is now implementing and RIFD solution to monitor and track the movement of e-broker devices on its New York trading floor.
The solution will consist of attaching Wi-Fi RFID tags to NYSE’s handheld e-broker devices to provide data and information about the location and status of the devices, and enable NYSE to monitor broker compliance with exchange trading rules.
NYSE and NYSE Annex rules state that brokers are to trade equities and options in separate trading environments, thereby restricting the movement of brokers and the handheld devices they use between trading floors.
With the RFID solution any device that illegally crosses between different areas will be identified using automated alerts. Traders and their device locations will also be displayed on monitors using viewing software.