- 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)