Nasdaq Gets OK For SuperMontage - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Nasdaq Gets OK For SuperMontage

Nasdaq last week finally got the nod from the Securities and Exchange Commission to launch its $100 million SuperMontage electronic trading platform as early as Sept. 17 and no later than Oct. 11. The platform will let stock buyers see five levels of prices, rather than just the currently visible best price. It could also consolidate trades on a single computer architecture for faster and more-efficient execution, Nasdaq says.

SuperMontage has been ready to go live and has been testing trades on more than 30 stocks since July. The regulatory battle with competing electronic communications networks has kept the project on hold. Those companies say the system would lead to a Nasdaq monopoly on trading. The SEC ruling gives the ECNs four days to link into SuperMontage or declare that they'll use an alternative display facility created by Nasdaq and operated by its former parent company, NASD, in compliance with an earlier SEC ruling aimed at preventing a SuperMontage monopoly. Should the ECNs use the alternative facility, they'll have 45 days to test it before SuperMontage can go live.

"From a technology and operations point of view, the project is fully implemented and complete," Nasdaq CIO Steve Randich says. Now it's just a question of whether or when the ECNs will link into the system.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
The State of IT & Cybersecurity Operations 2020
The State of IT & Cybersecurity Operations 2020
Download this report from InformationWeek, in partnership with Dark Reading, to learn more about how today's IT operations teams work with cybersecurity operations, what technologies they are using, and how they communicate and share responsibility--or create risk by failing to do so. Get it now!
Commentary
The Best Way to Get Started with Data Analytics
John Edwards, Technology Journalist & Author,  7/8/2020
Slideshows
10 Cyberattacks on the Rise During the Pandemic
Cynthia Harvey, Freelance Journalist, InformationWeek,  6/24/2020
News
IT Trade Shows Go Virtual: Your 2020 List of Events
Jessica Davis, Senior Editor, Enterprise Apps,  5/29/2020
Register for InformationWeek Newsletters
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll