ECNs Sidestep Full Support For SuperMontage
EXCHANGE TECHNOLOGIES
NEW YORK--In the wake of Nasdaq's much-hyped SuperMontage launch, ECNs are mostly resisting fully opening their order books to the platform, which, as expected, makes Nasdaq more of an ECN-like competitor.
While providing quotes to the new platform, most ECNs are declining to receive automated executions via SuperMontage, which went live Oct. 14 with five securities.
The maiden symbols represented only a tiny fraction of total volume, but about a dozen market makers were trading on SuperMontage
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