Nasdaq OMX PSX wants to launch of a second minimum orders

10/30/2011 | Bloomberg Businessweek

Nasdaq OMX PSX is seeking to launch a stock order that would be required to last at least one tenth of a second. The proposal requires approval from the Securities and Exchange Commission, which is looking into how high-frequency trading affects the markets. PSX's proposal is expected to spark a debate about stock orders. Eric Noll, executive vice president for transaction services at U.S. NASDAQ OMX, will be part of a special market structure panel at SIFMA's Annual Meeting, Nov. 7.

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