Exchange Technologies: Nasdaq Weathers a Tough Year
TRADING TECHNOLOGY WEEK ANNUAL REVIEW 2003
NEW YORK--The Nasdaq Stock Market battled through what may have been one of the most tumultuous years in its history in 2003.
Despite the launch of its new trading system, SuperMontage, late in 2002 (TTW, Oct. 21, 2002), Nasdaq continued to lose market share in the securities it lists throughout the year, suffering defections of several major liquidity pools. The appointment of new CEO Robert Greifeld, a SunGard veteran, (TTW, April 21), saw the undoing of virtually every expansive plan of former
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