The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it will voluntarily cease offering flash order types, effective September 1st, 2009.
We appreciate that Chairman Schapiro and the Commissioners will assume overall leadership for the industry to conduct a comprehensive review of all issues related to flash orders. We recognize the SEC's rulemaking process will take time, yet as an exchange we have the ability to move on our own. We respectfully call on other markets offering similar functionality to make the same decision.
