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Nasdaq's New Crown Jewel Will SuperMontage end Fragmentation?

Traders Magazine, May 2002

Peter Chapman

Will SuperMontage be worth the wait? Nearly three years after it was first proposed, Nasdaq's much debated trading system is scheduled to launch next month. If successful, it could boost liquidity, but it's unlikely to transform the inter-dealer market, pros say. SuperMontage will display and grant automatic executions against multiple levels of quotations. Five levels will be visible in a new split-screen-aggregated in the top half and broken out in the bottom half. The remaining levels will be accessible on a time-delayed basis.

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