NEW YORK, May 16, 2007 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. (Nasdaq:NDAQ) has been recognized as the best data provider among the world's securities exchanges for the second consecutive year. This recognition of excellence was announced recently at the 5th annual Inside Market Data Awards event in New York. NASDAQ's acknowledgement as a world-class data provider was determined by the readership of Inside Market Data, the publication of choice for senior level data and technology executives within the financial services and securities industry throughout the world.
"This achievement reaffirms NASDAQ's success in helping our data clients achieve their strategic objectives," commented Adena Friedman, NASDAQ Executive Vice President, Corporate Strategy and Data Products. "It is particularly rewarding to be singled out for the second consecutive year as the absolute best in a field of worthy exchange competitors. NASDAQ continues to enhance existing products and create new innovative offerings that are designed to meet the growing demands of increasingly sophisticated investors."
NASDAQ's premium product, TotalView, provides an unparalleled view of NASDAQ liquidity, allowing traders to pursue unique trading opportunities and realize the full potential of their trading strategies. TotalView displays all attributed and anonymous quotes and orders in the NASDAQ Market Center. Through the 2006 integration of new technologies, TotalView is now the most complete source of NASDAQ order book information that displays over 15 times more liquidity than Level II. TotalView also includes the Net Order Imbalance Indicator (NOII), which offers a preview of forces that affect stocks' opening, closing, and IPO prices,
Other recent innovations include the introduction of NASDAQ Market Velocity, a real time product that detects the level of market activity in NASDAQ stocks and alerts traders to events before they appear in price and volume information. Market Velocity is one of four products included in NASDAQ Market Analytix(tm) (NASDAQ MAX(tm)), a package of real-time and near-real-time data products that provide a new level of transparency to trading activity in NASDAQ trading systems.
In addition to Market Velocity, NASDAQ MAX is made up of the following three products, with more components to be added periodically:
NASDAQ Market Forces: a real-time product that uses the same order frequency and share volume information as used in Market Velocity, but categorizes the orders by whether they are buys or sells. Market Forces provides an indication of market direction and is expressed as a number of shares or a percentage of shares in buy versus sell orders.
NASDAQ Competitive VWAP Benchmark: a custom query-response system that complements the Volume Weighted Average Price (VWAP), a benchmark often used by institutional investors to determine whether they received a good price for a large trade. A Competitive Volume Weighted Average Price (CVWAP) Benchmark provides the best and worst average price performance by actual market makers trading on the NASDAQ Market Center execution system.
NASDAQ Competitive VWAP Leaders: a periodic market maker leader board that enables institutional investors to identify the firms with the most experience trading a particular stock or type of stock. Unlike ordinary leader boards that rank market makers by traded volume alone, CVWAP Leaders ranks them by share volume weighted by execution quality (the difference between the market participant VWAP and the overall VWAP).
NASDAQ MAX also received honors by being recognized as a finalist in the Best New Data Product category by Inside Market Data.
About NASDAQ
NASDAQ is the largest U.S. electronic equities exchange. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. electronic market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks as well as a leading liquidity pool for trading NYSE-listed stocks. For more information about NASDAQ, visit the NASDAQ Web site at www.nasdaq.com or the NASDAQ Newsroom at www.nasdaq.com/newsroom/.
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