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Simmons: Nasdaq’s chairman and |
Nasdaq’s new electronic trading system, SuperMontage, was widely expected to wipe out the ECNs (electronic communication networks) that have succeeded in winning so much of its trading volume. But the completion of SuperMontage’s roll-out on December 2 – after a six-week piecemeal process of adding stocks to the system – left market shares virtually unchanged by year-end.
Market-share statistics have been volatile but according to research by Putnam Lovell, SuperMontage’s share of stocks then on its system actually fell over the week ending November 11.
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