Summary
Nasdaq Stock Market Inc., the No. 2 U.S. stock market, plans to pull out of a 27-year-old system that links major U.S. markets, potentially helping to expand its trading of securities listed on the New York Stock Exchange.
Nasdaq will withdraw from the Intermarket Trading System, a common platform used to route some stock orders, and rely on its own privatively developed system. Under rules that will take effect next year, exchanges must be interconnected so investors can access the best price on electronic-stock trades.See the full content of this document
Extract
Nasdaq to Pull Out of Old Network
"Everyone is under regulatory pressure to connect with each other, so something had to be done," said Sang Lee, managing partner at Boston-based consultant Aite Group L...
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