The Island ECN is to participate in SuperMontage, Nasdaq Stock Market's next-generation trading platform.
The new quote-and-order processing system, which will allow participants to enter several price levels, has completed the first round of internal testing and is due to begin external customer testing, in which Island will participate, on Saturday. SuperMontage is scheduled for a phased-in implementation in late July 2002.
Matthew Andresen, Island CEO, says: "Super Montage will be a significant improvement in Nasdaq's evolving market structure. Island participation in SuperMontage will give our subscribers access to an increasingly deeper and unique pool of marketable orders"