Since ARCA and REDI will be combining their order books into one(the ARCA book),i figured ISLD and INCA would do the same.If they do,we hope the matches will be just as fast as ISLD is now.I think after their merger,they might have as much as 40% or so control of Nasdaq volume.In the ideal world,i envision a day when all stocks(listed and nasdaq)will be traded 100% on INCA 24/7,with no short sale rule.
A senior exec of LSPD had a conference call with us today discussing SM, and he indicated INCA would NOT be participating in SM, but that ISLD would. Monday will be interesting.
Am I missing something or is stage I just a test phase that does not concern us one way or the other? The link clearly says that fills will be rejected on the tickers used in the test.
You are correct. This is merely a live 'rollout' of SuperMontage using totally 100% fake stocks, like TESTA, TESTB, etc., to work out the kinks in the SM system without having real dollars at risk for anyone. Note that a group of new 'test' stocks have been created for this 'rollout'. However, none of this yet affects 'real' traders like us. It's mainly to help the software guys who need to ensure that their upgrades are working properly before actual stocks begin to be implemented in stages, starting with phase 2 (timetable unknown as yet for phase 2, I think). -Eric
Well I'm glad that we still have more time before this monstrosity comes out. Hopefully it will take months, or even a year, before trading is affected.
In response to gazmax, there will be a huge difference for traders who scalp the market for small profits for it will change the entire makeup of the level two box and movements. The bottom line is that the nasdaq is desperately trying to take business (volume) back from the ecn's to SM. The only thing they have not considered is that this actually might simply put them in a position where traders realize that they do not need to naz at all...just trade on ecns.