Additionally, Market Replay has been enhanced to allow same-day access to data for U.S.-listed equity securities. Previously, Market Replay provided historical data that was accessible to users beginning with the previous trading day.

Market Replay has also been enhanced to allow users to quickly access data for NYSE-listed and Amex-listed equity securities, in addition to NASDAQ-listed securities.

"These enhancements to NASDAQ Market Replay give all investors and traders unprecedented access to the details of U.S. equity trading in an extremely efficient and highly affordable fashion," stated NASDAQ OMX Executive Vice President Adena Friedman. "With this highly innovative product, users can instantly discover in much greater detail -- down to the millisecond level -- how a trade was executed. Greater transparency made possible by Market Replay engenders greater confidence in the markets."

NASDAQ Market Replay provides replay and analysis of quote and trade activity in simulated real-time, with a customizable zoom feature to view events at the millisecond level to see exactly what happened. Following the completion of a trade, Market Replay allows users to analyze whether their trade received best execution and permits compliance officers to confirm if a trade met compliance standards.

Market Replay can be used for a variety of functions by all market participants including institutional and retail investors, professional and non-professional traders, and compliance officers. Market Replay enables users to:

• Review a situation for analysis or training;
  
• Analyze whether a trade complied with best-execution requirements;
• Review interesting situations and missed opportunities;
• Share a replay with clients to confirm best execution quality;

Market Replay will be available on July 1 directly from NASDAQ OMX.