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National Stock Exchange®, Inc. (NSXSM) today announced that it plans to add Tape A (NYSE-listed) securities and Tape B (Amex-listed) securities to NSX BLADESM on February 26. NSX BLADE currently includes only Tape C (Nasdaq-listed) securities. The addition of Tape A and Tape B will make NSX BLADE fully functional on all Tape A, B and C securities.
All Tape A and Tape B securities will be transitioned to NSX BLADE on February 26 from the Exchange's legacy system, the National Securities Trading System (NSTS), after which NSTS will be retired.
NSX BLADE was introduced in October 2006, with a phased-in migration of Nasdaq-listed symbols onto NSX BLADE from NSTS. The migration of Tape C securities was completed during December 2006.
"Just this week, total volume in NSX-operated systems has averaged 447,000 trades per day and 101 million shares per day," said NSX CEO Joseph Rizzello. "When we set out to build an entirely new system, our goal was to create a platform that would meet the changing needs of the industry and accommodate the broadest range of users. We believe the growth we're seeing indicates that we are on the right track."
NSX BLADE provides an order delivery function permitting ECNs to publish their best bids and offers on the NSX Book and be treated the same as any other NSX participant. Routing to a participating order delivery ECN is an integral feature of NSX BLADE and occurs whenever a marketable order interacts with a resting order delivery ECN order. BATS was the first ECN on NSX BLADE, and has since been followed by Track Data Corporation's Track ECN.
In addition to order delivery, NSX BLADE offers strict price-time priority, unprecedented speed and highly competitive pricing due to NSX's unique operating leverage. NSX BLADE also features scalable capacity, with capability of quick expansion as volume dictates; a wide range of connectivity options; and anonymity during all stages of order execution, from the receipt of the order through the clearing process.
NSX's new technology platform - NSX BLADE and the NASD/NSX Trade Reporting Facility - was built from the ground up specifically to meet the speed, price and service needs in a post-Regulation NMS environment.
NSX, the nation's first all-electronic stock exchange, is the leading cost-effective 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 www.nsx.com.
