NEW YORK, June 5, 2007 (PRIME NEWSWIRE) -- The Nasdaq Stock Market, Inc. ("NASDAQ(r)") (Nasdaq:NDAQ) today announced it has rolled out the NASDAQ Intraday Cross and Post-Close Cross. Following the highly successful Opening and Closing Crosses and the IPO/Halt Cross, this new comprehensive suite of crossing products launched on Tuesday, May 29th in 20 pilot securities and was expanded to all eligible securities on Monday, June 4th.
While offering deep pools of liquidity similar to those available in the Opening and Closing Crosses, the Intraday and Post-Close Crosses differ by:
* Including all eligible NYSE, Amex or regional-listed securities, as well as those listed on NASDAQ. * Offering a fully anonymous blind match -- no imbalance information is disseminated for the new crosses.
"The NASDAQ Intraday Cross will continue to help institutional-sized orders find liquidity anonymously and with greater efficiency," said NASDAQ Executive Vice President Chris Concannon. "Because the implementation has expanded to eligible NYSE and AMEX securities, it makes our crossing products more appealing to our customers."
NASDAQ has scheduled its intra-day and post-closing crosses at 10:45 a.m., 12:45 p.m., 2:45 p.m., and 4:30 p.m., Eastern Time.
The crosses are free for all participants for the first six months. NASDAQ plans to offer competitive pricing six months after the launch, and will give credit for shares executed to allow firms to reach their pricing tiers.
Later this year NASDAQ will launch a Continuous Cross, subject to SEC approval, which is a matching book order that is fully anonymous.
About NASDAQ
The Nasdaq Stock Market, Inc. is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other U.S. market. NASDAQ 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. For more information about NASDAQ, visit the NASDAQ Web site at http://www.nasdaq.com or the NASDAQ Newsroom at http://www.nasdaq.com/newsroom/.
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