Financial Services Industry
Industry: Email Alert RSS FeedNasdaq Prepares for Web Market Making: Pilot Program Is Prologue toTrading-Cost Reductions.
Traders, October, 1998 by Malik, Om
Nasdaq will learn next year just how well an Internet-based market- making trading system performs.
Several Nasdaq trading desks are among the guinea pigs for a pilot program aimed at testing the reliability and security of the Internet- based successor to Nasdaq's Level II workstation. And the results of the pilot will be watched with anticipation, if not bated breath.
"The Internet is going to be the highway of the markets of the future," said Gregor Bailar, chief information officer of the National Association of Securities Dealers, Nasdaq's parent.
"We see it as an enabler and a catalyst, which helps create a more liquid and a more efficient market," he added.
Nasdaq declined to identify the participants in the pilot, though it...
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