Orders entered into NYBX are held in the NYBX order book. The NYBX book continuously scans itself and the NYSE order book to see if there is a possible match. Criteria may be placed on the order to manage marketability – such as a minimum size feature also known as the Minimum Triggering Volume (MTV). If there is sufficient contra-side liquidity in the NYSE book, the NYBX book or in combination, the system will attempt to execute all or part of the order.

• All orders are executed anonymously and NYSE floor participants do not know that the order came from NYBX or the NYBX participant.
• Executions are printed to the NYSE tape. Executions in which the NYSE book was part of the trade will print to the tape as "N." Executions where the NYBX book was part of the trade will print to the tape as "N.X."
• BIDS Trading users have the additional advantage of using the flexible tools of the BIDS ATS (negotiations, BIDS Scorecards^SM and Filters^SM, and Conditional orders).