Commentary

Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

Traders Poll

Are you in favor of a pilot program and examination of the rebate system by the SEC?




Free Site Registration

June 2, 2009

Nasdaq Philly Moves To INET Platform

By Peter Chapman

Nasdaq OMX PHLX announced plans to roll out a rebuilt options trading system by late May. The former Philadelphia Stock Exchange will use Nasdaq's INET architecture as the framework.

The INET technology will give the PHLX "scalability," Tom Wittman, Nasdaq OMX PHLX president, told attendees at the annual Options Industry Council conference, and will allow for a back-up system and co-location for brokers' servers. As part of the rebuild, the PHLX is also making changes to its opening process. PHLX will let liquidity providers "layer in" bids and offers.

It will also give them order imbalance messages so they know the constituents of the imbalance. The exchange will also establish an opening quote range.

(c) 2009 Traders Magazine and SourceMedia, Inc. All Rights Reserved.

http://www.tradersmagazine.com http://www.sourcemedia.com/