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%

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August 31, 1998

AT Deadline - SelectNet

By John A. Byrne

The National Association of Securities Dealers is seeking full regulatory approval for a new NASD policy giving institutional customers of member firms direct access to Nasdaq's SelectNet. In a filing with the Securities and Exchange Commission, the NASD reiterated an earlier NASD interpretative staff letter supporting direct access for institutional accounts.

The NASD stated in the filing that advances in technology make it possible for firms to provide direct access to SelectNet, as well as the Small Order Execution System. Indeed, several members have recently approached the NASD about access.

Direct access on Nasdaq is comparable to the New York Stock Exchange's DOT system, which allows customers to send orders to the floor with minimal intervention from traders. The direct link to Nasdaq would give institutions even more access to Nasdaq than is currently available via electronic communications networks, experts say.