New York Stock Exchange: Capability of Automated Systems To Identify Program Trading

Pursuant to a congressional request, GAO: (1) assessed the computer systems of 10 member firms linked to the New York Stock Exchange (NYSE) for basket trading; (2) determined NYSE and member systems' capability to identify basket trades and differentiate between program trading strategies; and (3) determined whether system improvements since the October 1987 market crash permit more accurate reporting of various program trading strategies.