 |
| |
SR-NASD-99-53 |
NASDAQ Head Trader Alert #1999-55 - NASDAQ Announces New Electronic Order Display Facility
Nasdaq Announces New Electronic Order Display Facility (Alert #1999-55 and attachments)To respond to the increased fragmentation and loss of transparency that results from having multiple, competing market centers, Nasdaq® has proposed a redesign of the Nasdaq Workstation II® (NWIITM). The proposal, recently submitted to the Securities and Exchange Commission (SEC), envisions a new Nasdaq window that will electronically display quotes and orders to buy and sell Nasdaq stocks from all market participants, enhancing the collection, aggregation, and display of pre-trade information. Nasdaq is planning for implementation in the summer of 2000.
For more information, see this presentation on the new facility (with details on how it will work) and the rule filing (both in PDF format) submitted to the SEC. If you have any additional questions, please contact Bill Broka, Trading and Market Services at (202) 728-8050 or Tom Moran, Nasdaq Office of General Counsel, at (202) 728-8401.
