Thursday, October 15, 2009

Equity Trader Alert #2009 - 73
NASDAQ OMX to Launch Third Equity Trading Platform

Contact Information:

What you need to know:

  • NASDAQ OMX has announced its plan to launch a third equity trading platform during the second half of 2010 using the license acquired from the 2007 acquisition of the Philadelphia Stock Exchange.
  • The new platform will feature a price/size priority market structure.
  • The platform will run on the same proven INET technology as the rest of the NASDAQ OMX markets.
 

What has been announced?

NASDAQ OMXSM has announced its plan to launch a third equity trading platform during the second half of 2010 using the license acquired from the 2007 acquisition of the Philadelphia Stock Exchange, now know as NASDAQ OMX PHLXSM (PHLXSM), pending SEC approval.

What is the market model of the new platform?

The new trading platform will feature a price/size priority market structure, currently not available for trading equities in the U.S. NASDAQ OMX will continue to offer price/time priority trading on The NASDAQ Stock Market® and NASDAQ OMX BXSM (BXSM).

What technology will be used?

The new platform will leverage the speed and efficiency of the same proven INET technology used across all NASDAQ OMX markets.

Will the new market have proprietary data feeds?

Yes, NASDAQ OMX Global Data Products will support this new venue to provide transparency via market data to the trading community.

Where can I find additional information?



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