SEC Gives NASDAQ Systems Integration Plan The Go-Ahead

The Securities and Exchange Commission says it approved Monday NASDAQ's plan to integrate the NASDAQ Market Center and the Brut and INET execution systems. NASDAQ says the new system is designed to offer users improved execution quality and speed, while

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The Securities and Exchange Commission says it approved Monday NASDAQ’s plan to integrate the NASDAQ Market Center and the Brut and INET execution systems.

NASDAQ says the new system is designed to offer users improved execution quality and speed, while at the same time providing access to the NASDAQ Market Center’s information, including market making functionality, attributed quotes, and IPO Crosses.

“We are combining the best functional elements and the liquidity from each of NASDAQ’s three systems,” says Chris Concannon, NASDAQ executive vice president. “The result will be faster executions and increased order interaction. The integration will spur further innovation and accelerate NASDAQ’s growth initiatives in both NASDAQ- and other exchange-listed trading.”

The integration is expected to go through in a series of phases between August and October.

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