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Article: Nasdaq grows as usage, volume continue to rise. (Expanding Horizons).
- Article from:
- Buyside
- Article date:
- September 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 M2Media360. 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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The Nasdaq has instituted the Primex Auction System to expand trading to include all NYSE-listed securities. This will more than double the number of stocks eligible to trade in the world's first totally electronic auction for stocks.
Since its launch in December 2001, the Primex Auction System has executed more than 900 million shares. "We have experienced continued and steady growth in usage," says Dean Furbush, executive vice president of Nasdaq Transaction Services, "Primex recently set a record for daily trading volume of more than 13 million shares."
In conjunction with expanding the list of eligible securities, Nasdaq will upgrade the capacity of ...