My new colleagues at NYSE Alternext US (formerly the Amex) tell me that the speed of opening stocks has picked up significantly in recent days. On Wednesday, more than half of the NYSE Alternext US-listed stocks opened within the first 10 seconds following 09:30:00. My understanding is that we expect further improvement in that number in the coming weeks.

I also hear that we’ve experienced an uptick in market share, primarily due to the return of key participants to the NYSE Alternext US market. Welcome, folks; we’re going to continue working hard to merit your business.

Will keep you posted as our newest market continues to develop.

Happy Friday, my friends. I have a day off today, and naturally we had an ice storm last night so the power is out. The bare branches outside have a pretty ice glaze on them and the mountains nearby are frosted white, but unfortunately a lot of those branches came down somewhere. So there’s no school today, we’re in the house with two kids who “have nothing to do,” I’m running my laptop off an emergency battery my wife lent me (thanks, babe) and I’m signing off before the battery runs out. Might talk with you later if the electricity returns, but the utility says there are 50,000 customers without power in our region, so this might take a while. Until then, a good weekend.

How’s this for appropriate timing:

Today in NYSE History (NYSE.com)
12 Dec. 1960 — A snowstorm delayed the Opening Bell until 11 a.m.

A sampling of recent news this week re NYSE Alternext US, my new MMC (market-making colleagues):

Big Board, Small Caps (WSJ.com) Excerpt: The U.S. initial public offering market has been largely dormant for months, but movement is afoot elsewhere in the stock listings world.
This week, the listings of hundreds of small and mid-sized companies shifted from the former American Stock Exchange to their new home on Wall Street and the floor of the New York Stock Exchange. The move allows NYSE floor traders to buy and sell a larger number of stocks more seamlessly, though the old Amex listing venue, recently renamed NYSE Alternext US, will be separate from listings on the New York Stock Exchange.

Amex Gets New Lease on Life at the NYSE (Traders.com) Excerpt: Active specialists making tighter markets and improved technology are considered the linchpins to a bright future for the American Stock Exchange, now known as NYSE Alternext. NYSE Euronext completed its acquisition of Amex in October.
Today is just the third day the old Amex market has operated as NYSE Alternext in the Garage of the New York Stock Exchange. But hope is emerging that the new ownership and market model will enable the once-powerful Curb market to regain some of the ground lost in recent years.

ETF Migration From AMEX To NYSE Heading Into Final Phase (IndexUniverse.com) Excerpt: While such a massive move is unprecedented in size for the ETF world, some definite pluses could result, point out industry observers.
One of the major pluses could be to help spur the development of globally cross-listed ETFs for the fund industry’s fastest-growing product line. That’s particularly of concern since the AMEX did not have the global reach of NYSE Euronext.
At the same time, fund companies are making more connections with overseas exchanges. This pursuit of so-called cross-listings in a number of different exchanges for the same ETFs is picking up steam across markets in Europe, Asia, the Middle East and Latin America.

NYSE to ‘Align’ Amex, Arca Feeds (InsideMarketData.com, subscription only)

While I’m on the subject, I’m looking for fellow employees to blog about this business. Members, too. I think the best corporate blog is one where the expert (as opposed to someone like me) talks directly to customers and the public, so I’m hoping to enlist a colleague or two who can talk about NYSE Alternext US. If you want to nominate yourself or someone else or just talk about the possibility, I’m all ears. A lot of nose, too, but…anyway. Shoot me an e-mail, post a comment here, or give me a call.

And on a totally unrelated note, later today:

Brown-Forman to Visit the NYSE and Commemorate the 75th Anniversary of the End of Prohibition (NYSE.com)

Now there’s a happy anniversary. I’ll drink to that!

Today completes the transition of the American Stock Exchange’s equity trading to NYSE Euronext’s platforms, according to this press release. The Amex’s equity unit, now called NYSE Alternext US, brings more than 500 additional listed companies and 150 closed-end funds.

What does this mean for the NYSE Alternext US trading community?
• Faster and more robust trading, connectivity and routing technologies via NYSE Euronext platforms;
• Lower pricing and new, competitive maker/taker pricing model;
• Greater transparency, via NYSE Alternext OpenBook Real-Time and NYSE Alternext OpenBook;
• Exposure for NYSE Alternext US securities to the NYSE liquidity pool;
• Streamlined access to the marketplace via a new trading-license model;
• Next-generation market structure leveraging the NYSE model;
• Enhanced opening and closing processes;
• Streamlined rule set and post-trade processes;
• Overall, improved functionality and customer experience.

Other key parts of this integration:
• More than 650 exchange-traded products have moved their listing to NYSE Arca from the Amex, and that transition will wrap up this month;
• The final piece is expected to come in February 2009, when NYSE Amex Options opens its new trading floor at the NYSE.

Today also is a historic day for a marketplace whose history traces back to the 1790s — as long as the NYSE’s. For as long as I’ve been here (and no, you wise guys, that’s not 200+ years), the Amex’s location has been referred to on the Street as “across the cemetary,” that is, on the other side of the Trinity Church cemetary. Today, the Amex equity traders walk instead into 11 Wall St., the new home of NYSE Alternext US. To all of you, and your customers, we say welcome.

Speaking of history, a little shot of trivia for your Monday morning:

Today in NYSE History
01 Dec 1873 — Regular trading hours were established - 10 a.m. to 3 p.m.; Saturdays, 10 a.m. to noon.

I move that we go back to 10-3, but none of that Saturday stuff. Anyone second the motion?