Free Site Registration

SEC Hears More on Locked Markets

Traders Magazine, January 2003

Gregory Bresiger

The refusal of Instinet and Island to use the SuperMontage platform is causing more locked and crossed markets, a problem which splinters trading and hinders executions. That's what Nasdaq officials were telling SEC officials who met with them recently at One Liberty Plaza in New York City. The meeting, held at Nasdaq's New York offices, included top level officials from various SROs. Nasdaq officials won't speak about this meeting for the record. But sources say that they asked for the SEC to take action, possibly requiring the two huge ECNs to join the SuperMontage.

Get access to this article and thousands more...

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.

Already Registered?

Advertisement

Advertisement