Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

Free Site Registration

April 1, 1998

At Deadline - NODES

By 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."

Opinion is divided on a proposal that would prevent order- entry firms and individual traders withdrawing limit orders during the 10 seconds that elapse after an order is entered. But you probably guessed. This rule is designed to prevent gaming, or empheral quoting, by day trading firms. That upsets them. But many market makers think the proposal is a step in the right direction.