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NASDAQ Announces Launch Of High Capacity Single Platform To Trade NYSE, AMEX, And NASDAQ-Listed Securities

Date 16/03/2004

The Nasdaq Stock Market, Inc. ("NASDAQ ®"; OTCBB: NDAQ) today announced a new high-capacity trading platform for NYSE, AMEX and NASDAQ securities, including ETFs. The new trading engine is a technologically advanced and fully redundant platform that incorporates all of NASDAQ's current trading systems on one fast and functionality-driven system. It also has the full capacity to trade all NASDAQ and NYSE-listed and Amex securities on its system in the event of a crisis.

The new NASDAQ trading system facilitates the trading of dually listed securities and incorporates recent NASDAQ system enhancements such as FIX, anonymity, and Multiple Participant Ids (MPID). After implementing a successful pilot program, NASDAQ rolled-out trading on the new single platform for all stocks on Monday, March 15, 2004. The system is capable of trading all 6,679 listed stocks for the U.S. capital markets. NASDAQ received approval on its new system from the Securities and Exchange Commission on March 2, 2004.

"The launch of a single, streamlined platform marks the evolution of NASDAQ's trading system. Our ability to trade NYSE, AMEX and NASDAQ securities on one trading system means customers can enter orders, quotes, and trade report all on a single platform creating increased efficiencies for market participants," commented Bob Greifeld, President and CEO, The NASDAQ Stock Market. "Furthermore, we are encouraged by the level of interest new market participants have expressed to trade dually-listed securities on our new trading platform," added Mr. Greifeld.

"NASDAQ's newly launched single platform will facilitate trading for our customers and highlights our capacity to react to the rapidly changing needs of our market participants. With many firms moving towards sectoring their desks, NASDAQ's new trading system gives traders the ease of using one screen to trade both NASDAQ and NYSE securities with the benefit of numerous functionality features while keeping costs down," commented Chris Concannon, Executive Vice President, NASDAQ.

The newly launch system will be referred to as The NASDAQ market center, which encompasses SuperMontage, CAES, Intermarket, and the Automated Confirmation Transaction Service SM (ACT SM ), to better reflect NASDAQ's consolidated system. Recent functionality enhancements to NASDAQ's trading platform include expanded access points, new order types and inclusion of all securities. For additional information go to: http://www.nasdaqtrader.com/trader/news/2004/headtraderalerts/hta2004-022.stm

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.