A Big Order: Nasdaq's 3rd Exchange Faces Challenges

Hintze, John
November 2009
Securities Industry News;11/30/2009, Vol. 21 Issue 22, p11
Trade Publication
The article reports that Nasdaq plans to launch its third exchange in 2010 to draw larger orders that are chopped up and spread over multiple market centers. Its anticipated execution model, known as price-size, favors largest orders. It observes that Nasdaq price-size model, which prioritize quote size may be successful in drawing larger quotes with highly liquid but less active stocks.


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