Nasdaq OMX PSX (PSX), owned by New York–based Nasdaq OMX Group, is seeking authorization to launch a type of order for stocks that must last for one-tenth of a second, Bloomberg reports. PSX is looking to draw volume with larger orders, which will help users earn higher payment from the bourse and traders get a bigger share of arriving orders.
The price-size system also undercuts the emphasis on speed elsewhere, including the Nasdaq Stock Market. Regulators are weighing the impact of high-speed automated trading on the capability of investors to get the prices and transactions they are looking for.
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Nasdaq OMX PSX New York Nasdaq Stock Market Bloomberg Nasdaq OMX Group