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Article: Nasdaq to Launch Primex Auction System on December 17.
- Article from:
- PR Newswire
- Article date:
- December 6, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Nasdaq Stock Market(R) today announced that it would begin operation of the Primex Auction System(TM), a new hybrid auction/dealer trading system, on December 17, 2001. Nasdaq(R) has an exclusive license to operate the Primex Auction System for all U.S. equities.
The Primex Auction is a unique trading system that is offered as an optional service to all Nasdaq participants. Marketable orders of all sizes may be routed to the system, where they are briefly exposed to an electronically linked crowd of competing broker/dealers, proprietary traders, institutions, and electronic communications networks (ECNs). The auction is conducted continuously at ...