Nasdaq sets mid-October launch date for SuperMontage

The Nasdaq Stock market has set Monday, 14 October as the launch date for its new SuperMontage trading system.

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Nasdaq sets mid-October launch date for SuperMontage

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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."

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