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Nasdaq seeks speed bump in letter to SEC

Nov. 24, 2016 2:34 AM ETNasdaq, Inc. (NDAQ) StockNDAQBy: Yoel Minkoff, SA News Editor5 Comments
  • Nasdaq (NASDAQ:NDAQ) is looking to approve a new order type in the latest example of how the dynamics of speed are changing in the world's largest equity market.
  • In a letter to the SEC, the exchange operator proposed a so-called extended life priority order attribute, which would give priority to retail orders seen by the whole market when traders agree not to cancel them for at least one second.
  • Nasdaq said the order type would benefit long-term investors who may not be monitoring minute changes in market prices.
  • Previously: Nasdaq plans new option to rival IEX (Aug. 15 2016)

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