The NYSE Group reports that its Hybrid Market’s performance and execution quality have been very positive so far.

“The NYSE Hybrid Market provides customers unparalleled choice and flexibility in trading NYSE-listed securities, while maintaining the exchange’s hallmarks of best price and superior market quality,” said NYSE Group Inc. chief financial officer and executive vice president Nelson Chai, who addressed the Keefe, Bruyette & Woods Securities Brokerage Conference this morning in New York. “With more than 100 NYSE-listed stocks now active in the Hybrid Market, measures for market quality and operational performance are very positive.”

Chai added, “The Hybrid Market is working extremely well, our overall share of trading volume in these Phase III stocks is up, and the Hybrid Market is delivering as expected with respect to speed, price and liquidity. These initial results build upon our confidence as we continue to add stocks, and our customers, specialists and floor brokers are responding to and interacting very well with the Hybrid Market.”

Through Oct. 30, results for 109 NYSE-listed stocks trading in the Hybrid Market include: 98.8% of quotes were automatically accessible; 91% of trades were auto-executed, from 29% pre-Hybrid; 80% of share volume was auto-executed, from 18.5% pre-Hybrid; the quoted spread declined to 14.16 basis points from 16.23 basis points; liquidity, as measured by the number of shares at the Best Bid or Offer, grew to 11,379 shares as compared to 7,998 pre-Hybrid;, fill rates at the NYSE, measuring certainty of order execution, rose to 80.5% from 73.5% pre-Hybrid; and, the percentage of time the NYSE set or matched the National Best Bid or Offer rose to 89.5% from 86.7%.

During the Hybrid Market Phase III implementation period, the NYSE reports that it is seeing a dramatic increase in the number of electronically executed orders. NYSE floor brokers for Hybrid Market stocks continue to execute large orders on the trading floor in both the auction and electronically.

The exchange is conducting a gradual roll-out of all NYSE-listed securities into Phase III through December.