NYSE Launches Initiatives For Improved Decimal Trading Transparency And Market Depth Information -- "Depth Indications" Begin March 19

The New York Stock Exchange today announced the first in a series of initiatives intended at improving transparency and communication of market-depth information in a decimal trading environment.

The Exchange has received Securities and Exchange approval to begin the dissemination of "Depth Indications" and "Depth Conditions" in NYSE-listed securities.

On Monday, March 19, the Exchange will begin providing Depth Indications for the following NYSE-listed securities: Qwest Communications International (Q), Avaya (AV), Lucent Technologies (LU), Gateway (GTW), Black & Decker (BDK), Tupperware (TUP), Franklin Resources (BEN), and Sears (S). By March 28, Depth Indications will be available for all 427 NYSE-listed components or 85.4% of the S&P 500, plus 20 of the Exchange's most actively traded non-U.S. listed securities.

An Exchange Information Memorandum to all Member and Member Organizations announcing these initiatives accompanies this release.