Nasdaq adds S&P 100 to Primex Auction System

Nasdaq adds S&P 100 to Primex Auction System

The Nasdaq Stock Market has expanded the list of securities eligible to trade on the Primex Auction System to include all component stocks of the S&P 100 Index.

The seven Nasdaq-listed securities now available to trade on the Primex Auction System are: Intel, Microsoft, Cisco, Oracle, Amgen, Nextel, and MedImmune.

Nasdaq began operation of the Primex Auction System on December 17, 2001, with trading in the 30 stocks of the Dow Jones Industrial Average. The exchange plans to add Nasdaq-100 Index stocks later this month.

Gene Lopez, senior vice president of The Nasdaq Stock Market, comments: "Through last Friday, more than 100,000 trades and 28 million shares were executed in the system. More than 1 percent of the Dow 30 volume consistently traded through Primex during that same period."

To date, more than 60 broker/dealers have registered as Primex Auction System participants.

Glen Shipway, CEO Primex Trading says: "As SunGard/BRASS, Lava Trading, and Nasdaq Tools connect their customers to Primex in coming weeks, we expect trading volumes to increase further."

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