The Nasdaq Stock market has set Monday, 14 October as the launch date for its new SuperMontage trading system.
The US Securities and Exchange Commission (SEC) voted unanimously on 29 August, to give final approval to SuperMontage, a fully integrated order display and execution system for the trading of Nasdaq-listed securities.
Nasdaq says the the new $100 million trading platform will open for business with five stocks. More will be aqdded each week, until all Nasdaq-listed securities are available over SuperMontage by the middle of November 2002.
Rick Ketchum, president and deputy chairman, Nasdaq, says: "SuperMontage will create a more transparent, deeper, more liquid market that will benefit our companies, market participants, and investors."