Free Site Registration

At Deadline - NODES

Traders Magazine, March 1998

Jophn A. Byrne

The deadline for comment on Nasdaq's proposed order delivery and execution system, or NODES, is extended to May 8. (The system, until recently, was popularly referred to as Next Nasdaq). Some experts say parts of NODES will upset some and satisfy others in the trading community.

NODES's limit order display book "logically satisfies the rule for making it a display electronic communications network (ECN)," one expert said. "SelectNet does not qualify as a display ECN because Nasdaq does not have the technology."

Get access to this article and thousands more...

All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.

Already Registered?