Commentary

Ronald Jordan
Traders Magazine Online News

Understanding Your Data is No Longer Optional

In this contributed article from Global Markets Advisory Group, the advisory discusses the importance of data and how organizations should augment existing skill sets and capabilities to add a data-focused perspective to their operating fabric.

Traders Poll

Do you expect SEC Chairman Jay Clayton to push for regulation in the cryptocurrency issuance and trading markets?

Yes

74%

No

5%

The CFTC will push for regulation

21%

Free Site Registration

January 2, 2007

Nasdaq Launches Dark Pool

By Peter Chapman

Nasdaq will introduce a new crossing system that will match up block-sized orders continuously. That's according to Chris Concannon, Nasdaq's executive vice president in charge of transaction services.

The new system will complement Nasdaq's opening and closing crosses as well as an intraday cross slated to launch soon. Concannon, speaking at the annual Security Traders Association conference in Scottsdale, Ariz., described the system as a "dark liquidity pool hidden inside the liquidity of the continuous market." Block orders residing in the new system will interact with other blocks in the system as well as the main Nasdaq market "when it can satisfy the block size," Concannon noted. The new service will not become operable until Nasdaq merges its three trading platforms into a single system that Nasdaq has dubbed Single Book.