Nasdaq Wages War For ECN Order Flow
Traders Magazine, February 2003
Nasdaq, in a bid to wrest market share from ECNs, changed its rules to allow order entry firms to post certain limit orders on SuperMontage. Non-market making NASD members can now post non-marketable limit orders, or those whose prices are inferior to the market's best, directly onto Nasdaq's new trading system. Previously, only dealers could do so.
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.