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NASDAQ RELEASES SUPERMONTAGE REPORT CARD

Nasdaq has released a report on the execution quality, liquidity and quoting behavior, market share, and market quality of its SuperMontage trading platform, analyzing the period from its full-book launch on Dec. 2 to Dec. 6, 2002. SuperMontage’s average time to execution is six times faster than predecessor auto-execution platform SuperSoes, and three times faster than order-delivery platform SelectNet. About 93 percent of all marketable SuperMontage

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