Nasdaq Quits SIP Over Lack of Tape Progress
In a letter on Nov. 25, 2013, Nasdaq OMX told the UTP Committee that it would not renew its contract to operate the SIP. The contract expired on Jan.1, though Nasdaq is contractually obliged to continue operating the SIP for two more years to allow sufficient time for the UTP Committee to find a replacement.
On Nov. 1, Nasdaq sent a formal notice to the UTP Committee─which comprises representatives from US securities exchanges─outlining 10 recommendations to improve the resiliency of the SIP
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