NASDAQ has rated each Service Bureau as Platinum, Silver, or Bronze. The rating system will be based on the level of service provided by these Service Bureaus such as:
- Enhanced order entry, market making, and order types;
- Automated routing to NASDAQ, and;
- New market enhancements in a timely fashion.
"Given the numerous connectivity solutions available today, we initiated this program to assist NASDAQ market participants achieve optimal connectivity to the NASDAQ marketplace," commented Chris Concannon, Executive Vice President, NASDAQ Transaction Services. "Accessing NASDAQ in a highly automated platform is critical for customers looking to achieve best execution. We are happy to be partnering with these vendors, which will become certified based on NASDAQ's vigorous technological standards," added Mr. Concannon.
NASDAQ will classify each Service Bureau by level and by type: order-entry or market making. The list of Service Bureaus, a functionality list, and what level each Service Bureau has achieved: Platinum, Silver or Bronze is being issued today. For additional information on the program, please go to: http://www.nasdaqtrader.com/cp/
Platinum firms thus far include:
Market Making Firms Bloombergbr>
- SSEOMS Royal Blue
- Fidessa Sungard
- U2/Brass Sungard
- UMA/Brass
Order Entry Firms Direct Access
- Instaquote E*Trade Professional
- Lightspeed Genesis Securities, LLC
- Laser Global Brokerage Corp.
- FastFill NexTrend Technologies, Inc.
NASDAQ is the largest U.S. electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology industries. NASDAQ is the primary market for trading NASDAQ listed stocks. Approximately 54% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ NewsroomSM at www.NASDAQnews.com.