Nasdaq to launch ‘supermontage’ trading screen soon

The new trading screen will provide market players a single interface for all quotes and orders and an integrated executive system. Nasdaq south-Asia director Ghanshyam Dass said: “The SuperMontage was built to address several emerging industry trends in market structure and regulation like increased competition, decimalisation, and added focus on best execution and natural growth of the market”.

The SuperMontage will have many advantages compared to the existing system like:

• Market depth—Each participant will be able to enter unlimited quotes and orders at each price level, but only their best prices will be displayed.

• Transparency—the aggregate buy and sell interest in each stock will be displayed at the top five price levels.

• Pre-trade anonymity— Participants can enter quotes anonymously.

• Faster, more accurate market—execution speed will get enhanced in an already fast-paced market. The new trading process will also allow participants to access all firms more efficiently with a single order.

• More information— participants and investors can make better informed decisions.

• More stable trading— anonymous orders reduces market impact on price and more pre-trade information means fewer post-trade surprises.

A statement issued by Nasdaq said the SuperMontage will benefit Nasdaq-listed companies because of its increased market intelligence which in turn will provide in-depth real-time monitoring of trading activity in individual stocks and valuable information for listed companies that want deeper insight into how their stock is moving in the market.