Nasdaq, ECNs Prepare to Square Off as SEC Conditionally Approves SuperMontage

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WASHINGTON, D.C.—Electronic communications networks (ECNs) will be forced to decide whether or not to join Nasdaq’s SuperMontage and/or the Alternative Display Facility (ADF) by the end of this week under the conditions imposed by the SEC last week in its approval of the SuperMontage enhanced trading platform.

At least one ECN, Instinet, has indicated it will write to the ADF, while NexTrade and Archipelago will join SuperMontage. Bloomberg Tradebook will be supporting both. Brut will join

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