The first pilot in the conversion to the SuperSoes trading system was successfully launched on Monday, July 9, 2001, when Nasdaq implemented 18 pilot SuperSoes securities and two test stocks. The second pilot of an additional 80 Nasdaq stocks means orders involving a total of 98 Nasdaq securities will be automatically executed utilizing SuperSoes. Full implementation of SuperSoes for all Nasdaq National Market securities is July 30, 2001.
"We are confident the second phase of SuperSoes will be as equally successful as the first," said Dean Furbush, Executive Vice President of Nasdaq Transaction Services. "We are well on track toward full implementation, which will result in an enhanced trading experience for market participants."
Nasdaq securities in the second phase were chosen to represent a broad range of trading activities. They will include:
- ActionPoint Inc
- Aether Systems, Inc
- Alabama National BanCorporation
- Alaska Communications Systems Group, Inc.
- AirNet Communications Corporation
- Andover Bancorp, Inc.
- Asta Funding, Inc.
- ATP Oil & Gas Corporation
- Bell Canada International, Inc.
- Banknorth Group, Inc.
- Biomet, Inc.
- Cabot Microelectronics Corporation
- Celgene Corporation
- CardioGenesis Corporation
- Suprema Specialties, Inc.
- Catalyst International, Inc.
- Compuware Corporation
- Capital Southwest Corporation
- Curon Medical, Inc.
- Daktronics, Inc.
- Digital Lightwave, Inc.
- Dynacare, Inc.
- Digital River, Inc.
- Descartes Systems Group Inc. (The)
- EPIQ Systems, Inc.
- Epimmune, Inc.
- EXE Technologies, Inc.
- Fastenal Company
- First Mariner Bancorp
- Gliatech Inc.
- GulfMark Offshore, Inc.
- GlobeSpan, Inc.
- Geoworks Corporation
- Harbor Florida Bancshares Inc
- Healthcare Services Group, Inc.
- Hibbett Sporting Goods, Inc.
- Harleysville National Corporation
- H Power Corporation
- Hawthorne Financial Corporation
- International Bancshares Corporation
- Internet Capital Group, Inc.
- i3 Mobile, Inc.
- Jaco Electronics, Inc.
- j2 Global Communications Inc
- Koala Corporation
- KPMG Consulting, Inc.
- Madison Gas and Electric Company
- Mesa Air Group, Inc.
- Modem Media Inc
- Mobius Management Systems, Inc
- Modtech Holdings Inc.
- Micromuse, Inc.
- Newmark Homes Corp.
- NPS Pharmaceuticals, Inc.
- New Focus, Inc.
- Nu Horizons Electronics Corp.
- NVIDIA Corporation
- Next Level Communications, Inc.
- Odetics, Inc.
- Openwave Systems Inc
- Promistar Financial Corporation
- QLT Inc.
- Elizabeth Arden, Inc.
- Reptron Electronics, Inc.
- Rigel Pharmaceuticals, Inc.
- Rambus, Inc.
- Salem Communications Corporation
- Socket Communications, Inc.
- Steven Madden, Ltd.
- Spartan Motors, Inc.
- Spire Corporation
- STAAR Surgical Company
- Stewart Enterprises, Inc.
- Southwest Water Company
- Tech Data Corporation
- TESSCO Technologies Incorporated
- Management Network Group, Inc. (The)
- VaxGen, Inc.
- Wireless Facilities, Inc.
- WJ Communications, Inc.
SuperSoes will accept orders of up to 999,999 shares at a time, allowing traders to execute large orders in a single transaction. SuperSoes will also:
- provide a more robust trading platform that will be able to handle increased trading volumes;
- reduce message traffic;
- re-establish SelectNet as an order delivery and negotiation system for NNM securities;
- reduce dual liability for Market Makers, possibly encouraging the display and execution of larger orders;
- allow Market Makers to use the automatic execution system on a proprietary basis for transactions;
- enable system interaction with reserve size.
The Nasdaq Stock Market lists over 4,300 companies, has a larger dollar volume, and trades more shares per day than any other U.S. market. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.
