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Thursday, August 6, 2009

Equity Trader Alert #2009 - 59
NASDAQ OMX to Eliminate Flash Order Offering Effective Tuesday, September 1, 2009

Markets Impacted:

  • The NASDAQ Stock Market
  • NASDAQ OMX BX

Contact Information:

What you need to know:

  • As announced in a statement from Bob Greifeld today, effective Tuesday, September 1, 2009, NASDAQ OMXSM will voluntarily cease the use of flash orders on both The NASDAQ Stock Market® and NASDAQ OMX BXSM (BXSM).
  • NASDAQ OMX appreciates that Chairman Schapiro and the Commissioners will assume overall leadership for the industry to conduct a comprehensive review of all issues related to flash orders. We recognize the SEC’s rulemaking process will take time, yet as an exchange we have the ability to move on our own.
  • NASDAQ OMX respectfully calls on other markets offering similar functionality to make the same decision.
 

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