National Stock Exchange, Inc. (NSX(SM)) today announced that it has begun a gradual phase-in of its new, state-of-the-art technology platform, NSX BLADE.
Nineteen Nasdaq-listed stocks will be transitioned into NSX BLADE tomorrow, October 31, from the Exchange's legacy system, the National Securities Trading System (NSTS). The phase-in began October 23 with the transition of one Nasdaq-listed stock (Bank of the Carolinas Corporation - ticker symbol BCAR) into NSX BLADE from NSTS. Additional Nasdaq-listed stocks will be phased into NSX BLADE over the next several weeks, followed by all securities listed on other exchanges.
NSX BLADE is NSX's completely new state-of-the-art technology platform and the centerpiece of the Exchange's new business model. Built from the ground up for the post-Regulation NMS environment, NSX BLADE offers strict price-time priority, unprecedented speed, highly competitive exchange pricing and an order delivery function to meet today's speed, price and service needs.
"The launch of NSX BLADE is the culmination of a major transformation NSX began a year and a half ago that has included the building of an entirely new technology platform by the best IT experts in the business," said Joseph Rizzello, NSX CEO and Chairman of NSX Holdings, Inc. "We applaud NSX's Chief Technology Officer Paul Arber and his team for enabling NSX to deliver the first competitive system to an industry seeking a high-tech, low-cost alternative to the status quo.
"We've done our homework, listened to what the customer wants and built the most inclusive system in the industry. We believe our new technology platform -- NSX BLADE and NASD/NSX Trade Reporting Facility -- will be the alternative of choice going forward," Mr. Rizzello said. In addition to strict price-time priority, speed, order delivery, and highly competitive pricing due to NSX's unique operating leverage, NSX BLADE features: scalable capacity, with capability of quick expansion as volume dictates; connectivity options -- through direct connect and all major extranets, plus co-location availability; and anonymity during all stages of order execution, from the receipt of the order through the clearing process.
During the transitional period in which NSX will be phasing various securities into NSX BLADE, the Exchange will be operating both the NSX BLADE and NSTS systems.
The 19 stocks to be transitioned into NSX BLADE on October 31 are:
BSQR
BSQUARE Corporation
DIMEZ
Dime Bancorp, Inc.
GTCB
GTC Biotherapeutics, Inc.
GTIM
Good Times Restaurants Inc.
INHX
Inhibitex, Inc.
LCRY
LeCroy Corporation
MDCA
MDC Partners Inc.
MDII
MDI, Inc.
MDLK
Medialink Worldwide Incorporated
NGRU
netGuru, Inc.
NMGC
NeoMagic Corporation
ONSM
Onstream Media Corporation
OPOF
Old Point Financial Corporation
PFCO
PAULA Financial
PDEX
Pro-Dex Inc.
QMED
Q Med, Inc.
RCMT
RCM Technologies, Inc.
SERV
Servidyne, Inc.
NSX, the nation's first all-electronic stock exchange, is the low-cost provider of exchange services. Having replaced its physical trading floor with a completely automated market in 1980, NSX has been a model of exchange efficiency and a driving force for change in the world of securities exchanges. Founded in 1885, NSX continues to lead the way in exchange innovation. For more information, visit NSX's website at http://www.nsx.com .
