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This column was originally published on RealMoney on Oct. 16 at 1:08 p.m. EDT. It's being republished as a bonus for TheStreet.com readers.

The

Nasdaq

I:IXIC

is the template for the

New York Stock Exchange

(NYX)

.

The

Financial Times

reports today that the Nasdaq, under its excellent CEO, Robert Greifeld, has cut $300 million in expenses. Why is this so significant? Pretty simple: I didn't even know there was fat to cut on the Nasdaq. I thought it was a mighty lean organization. Greifeld cut this fat over a three-year period!

Can you imagine how much fat there must be at the NYSE? It could be like a really bad steak -- bad, unless you want to have a heart attack.

The NYSE is rolling out this hybrid trading on stocks -- today it is

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-- and it is going extremely well. You can bypass humans and trade in size on the NYX and that means share-take from the Nasdaq and anyone else for that matter.

Keep your eyes on NYX. This stock is still cheap even up here, and there are few believers despite the fat and the change in trading.

I believe this one could see par in a heartbeat.

Random musings:

If you love following stocks as much as I do and want to help me help people make money, you're someone I need. I'm looking for an experienced research assistant based in the New York metro area to help me out. (CFAs welcome.) Please send your resum

and cover letter to

resasst@gmail.com.

At the time of publication, Cramer had no positions in stocks mentioned.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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