NASDAQ OMX announces third equity trading platform in the U.S.

NASDAQ OMX announces third equity trading platform in the U.S.


The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the world's largest exchange company, today announced that it plans to launch a third equity trading platform during the second half of 2010, pending SEC approval. NASDAQ OMX will offer this equity trading platform with a new price/size priority model using the license acquired from its 2007 acquisition of the former Philadelphia Stock Exchange, known today as NASDAQ OMX PHLX.

NASDAQ OMX's new equity price/size priority market structure is currently not offered on The NASDAQ Stock Market, NASDAQ OMX BX, or any other U.S. equity trading platform. The new model gives customers the ability to choose how to execute orders by either selecting a price/size priority model on NASDAQ OMX PHLX or a price/time priority model available on the exchange's other two U.S. equity trading platforms. NASDAQ OMX's new equity platform will also run on the INET technology to leverage the speed and efficiency benefits offered throughout NASDAQ OMX globally.

"NASDAQ OMX is pleased to continue its tradition of offering customers additional choices that will help supplement their various trading strategies. Based on feedback from key customers we decided to announce the launch of this trading platform that offers a new competitive equity market structure model," commented Eric Noll, Executive Vice President, NASDAQ OMX Group. "Furthermore, we are happy to extend one of the many assets of our acquisition of The Philadelphia Stock Exchange, yet again, to provide the benefits to our equity trading customers," added Mr. Noll.

Currently, The NASDAQ Stock Market and NASDAQ OMX BX offer customers a price time priority model with different pricing and functionality. NASDAQ OMX will reactivate its NASDAQ OMX PHLX equity license. NASDAQ OMX PHLX today operates a leading equity options trading business. Today, NASDAQ OMX also offers two diverse market structures for equity options trading in the U.S. with The NASDAQ Options Market and NASDAQ OMX PHLX, the third largest U.S. options market.