Trouble in Trumbull? Nasdaq is facing one of its toughest challenges since its inception in 1971
Traders Magazine, December 1999
On November 17th, during the last 20 minutes of trading on a day that saw record volume, Nasdaq's SelectNet system crashed. It was a black eye for Nasdaq, but a bonus for the ECN community.
"We had one of our biggest volume days," said Sydnie Kampschroeder, an executive with Chicago's Archipelago ECN. "And since we route orders [that don't execute in Archipelago] to Island and Instinet our customers had the benefit of those two large pools of liquidity as well."
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.