SuperMontage is a fully integrated order display and execution system for the trading of NASDAQ-listed securities capable of handling an expanded universe of orders. It is the culmination of a series of enhancements to NASDAQ's trading systems.
"We consider this a big win for investors," said Richard G. Ketchum, president and deputy chairman, NASDAQ. "SuperMontage will open a new window on the trading of stocks, providing a clearer view of market activity and an increased amount of information to investors.
"Now, in a single glance, investors will be able to see more of what's available to buy and sell in the market than ever before. The result is a more transparent, deeper, more liquid market. Additionally, through SuperMontage, traders will have a higher level of confidence in their ability to meet their best execution responsibilities."
SuperMontage was conceived to better manage a series of trends and regulations in the securities industry including decimalization, which has made it more important to access relevant depth; market participants' need for more choices in order display and execution; and the natural growth of trading volume.
Dean Furbush, executive vice president, NASDAQ Transaction Services, and head of the SuperMontage program, commented, "Since the implementation of decimalization, there are fewer shares available at each price point. SuperMontage will make it easier for market participants to access depth of trading interest due to the system's five levels of dynamically displayed depth."
Today, NASDAQ trades approximately two billion shares each day. NASDAQ takes in data from more than 350,000 terminals from around the world and processes more than 5,000 transactions per second. With SuperMontage's new computer architecture, quotes and orders will go through a single-computer architecture, adding even greater speed and efficiency to the market and allowing for easy expansion as volumes grow.
NASDAQ (OTCBB: NDAQ) is the world's largest stock market. With nearly 4,000 companies, NASDAQ lists more companies and trades more shares per day than any other U.S. market. Over the past five years, NASDAQ has outpaced all other U.S. markets in listing IPOs. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, media and biotechnology industries. NASDAQ is a key driver of global capital formation. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQ.com or the NASDAQ NewsroomSM at www.NASDAQnews.com.
