By Kevin Foley, Bloomberg TradeBook
NASDAQ SUPERMONTAGE
Bloomberg Tradebook opposed the original Supermontage because it essentially created a CLOB, that is, a central limit order book, that would have competed unfairly with ECNs and other market venues and would have represented an abuse of the NASD's power.
In negotiating with the NASD, we confronted our immediate and long-term competi- tive concerns. Our immediate concern was whether Supermon-tage could be altered in such a way as to not unfairly disadvantage one investor or member firm over
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