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Brijesh Malkan
Traders Magazine Online News

Solving the Last Mile Problem in Investment Research

One executive takes a forward look at how will the research value proposition change over the short to medium term, and what are the products and strategies managers will turn to?

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Should have had a pilot program a long time ago.

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December 1, 2002

Nasdaq's Guinness Book of Records!

By Staff Reports

Nasdaq may be breaking speed records on the SuperMontage.

About 95 percent of all orders currently trading on SuperMontage are executed in up to two tenths of a second, Hardwick Simmons, Nasdaq's chief executive, told attendees at the annual Securities Industry Association conference in Boca Raton.

That compares with an average execution speed of 17 seconds for orders on another, "unnamed exchange in New York," he wisecracked. An actively traded stock like Cisco, for example, usually has "quote updates" ten times a second on an active day on Nasdaq.

If it took as long as the NYSE's slower 17 second pace to execute the same order, Simmons said, then 170 "quote updates" would occur between the time you buy and sell and actually complete the trade.