The U.S. Securities and Exchange Commission (SEC) voted unanimously on August 29 to give final approval to SuperMontage, a fully integrated order display and execution system for the trading of NASDAQ-listed securities.
"We are extremely pleased that SuperMontage has become a reality and that the platform will soon begin trading NASDAQ stocks," said Rick Ketchum, president and deputy chairman, NASDAQ. "SuperMontage will create a more transparent, deeper, more liquid market that will benefit our companies, market participants, and investors."
The five initial securities to be traded on SuperMontage platform are: X-Rite, Inc. (NASDAQ:XRIT), XM Satellite Radio Holdings Inc. (NASDAQ:XMSR), webMethods, Inc. (NASDAQ:WEBM), WebEx Communications, Inc. (NASDAQ:WEBX), and Wind River Systems, Inc. (NASDAQ:WIND).
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 single-computer architecture, adding even greater speed and efficiency to the market and allowing for easy expansion as volumes grow.
NASDAQ 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.
