The Nasdaq Stock Market Inc. announced a new high-capacity trading platform for New York Stock Exchange, American Stock Exchange and Nasdaq-listed securities, including exchange-traded funds (ETFs).
The new trading engine incorporates all of Nasdaq’s current trading systems on one system. The newly launch system will be referred to as The Nasdaq market center, which encompasses SuperMontage, CAES, Intermarket, and the Automated Confirmation Transaction Service, to better reflect the consolidated system.
It has the full capacity to trade all Nasdaq and NYSE-listed and Amex securities on its system in the event of a crisis. The system is capable of trading all 6,679 listed stocks for the U.S. capital markets. The new trading system facilitates the trading of dually listed securities and incorporates recent system enhancements.
“The launch of a single, streamlined platform marks the evolution of Nasdaq’s trading system. Our ability to trade NYSE, AMEX and Nasdaq securities on one trading system means customers can enter orders, quotes, and trade report all on a single platform creating increased efficiencies for market participants,” said Bob Greifeld, President and CEO, The Nasdaq Stock Market, in a news release. “Furthermore, we are encouraged by the level of interest new market participants have expressed to trade dually-listed securities on our new trading platform.”
After implementing a pilot program, Nasdaq rolled-out trading on the new single platform for all stocks on Monday, March 15. Nasdaq received approval on its new system from the Securities and Exchange Commission on March 2.
Nasdaq launches single platform
Consolidated system capable of trading 6,679 U.S. stocks
- By: IE Staff
- March 16, 2004 March 16, 2004
- 13:50