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Lesli Fairchild
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In this exclusive to Traders Magazine, Lesli Fairchild discusses how the DEC 15 shutdown of AOL Messenger will affect traders and what alternatives are out there.

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April 30, 2002

Nasdaq Fights to Remain on Top

By Gregory Bresiger

Nasdaq, increasingly facing competition and regulatory controversy, is fighting to retain its primary position in the U.S. markets.

"The last thing Nasdaq wants to lose is its reputation as a primary market for capital formation in the United States," Nasdaq Chairman Hardwick Simmons, told the Financial Times. Nasdaq is facing competition for print revenue as well as quotes. Its last quarterly report showed reduced earnings. Nasadq, which has lost 60 percent since its high during the dot.com craze, has shattered many a portfolio.

Better Future

Still, Simmons argued that Nasdaq's projected SuperMontage trading platform along with innovative products, such as exchange traded funds, will help resurrect Nasdaq's declining fortunes.

"In this kind of a market it is increasingly difficult to pick individual stocks, [but] investors know that these are the companies of the future," Simmons said. Despite these companies' recent woes, Simmons said that, "Everywhere I go I hear the same thing: Where can I get a Nasdaq to help me bring entrepreneurs and their ideas public? Without [a Nasdaq] we will never be competitive with the U.S. in the technology marketplace," he added. Simmons also promised that SuperMontage, due to begin trials this summer, will be faster and more efficient.