Can't believe my eyes. Just read this http://www.traderbulletin.com/discuss/msgReader$359?mode=topic&y=2003&m=2&d=4 This is the biggest threat EVER to ECNs. So much for competition...
The Nasdaq Stock Market received SEC approval for a 90-day pilot program that will let active traders and BD's who do not have access to SuperMontage to enter proprietary limit and customer orders in to the system for the first time. Market Makers who do not make a market in stocks will also be able to display orders in SuperMontage!