Supermontage

{{Short description|Trading system used by Nasdaq}} {{more citations needed|date=March 2012}} '''SuperMontage,''' abbreviated simply as '''SM,''' was an integrated trading system that was used by American stock exchange Nasdaq and implemented in 2002. It featured a fully integrated public limit order book and market maker quotations, the ability to enter multiple quotes, anonymous ordering, five-level-deep buy and sell interest, and time-stamps on individual orders.<ref>{{Cite web |title=Introduction to SuperMontage used by NASDAQ |url=https://financetrain.com/introduction-to-supermontage-used-by-nasdaq |access-date=2025-12-18 |website=financetrain.com |language=en}}</ref> This system was retired when Nasdaq moved to a newer architecture<ref>{{Cite web|url=https://help.streetsmart.schwab.com/pro/4.38/Content/NSDQ_(NASDAQ).htm|title = "Nasdaq Singlebook}}</ref> based on the acquired technology of the Island ECN in 2006.<ref>{{Cite web |date=2006-10-24 |title=Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Modify the Operations of Its Recently-Approved “Single Book” Execution System |url=https://www.federalregister.gov/documents/2006/10/24/E6-17734/self-regulatory-organizations-the-nasdaq-stock-market-llc-notice-of-filing-and-immediate |access-date=2025-12-18 |website=Federal Register |language=en}}</ref>

==References== {{reflist}}

==Further reading== * {{cite book |title = Dark Pools: High-Speed Traders, A.I. Bandits, and the Threat to the Global Financial System |last = Patterson |first = Scott |year = 2012 |chapter = Chapter 16: Crazy Numbers |publisher = Crown Publishing |isbn = 978-0307887177}}

{{DEFAULTSORT:Supermontage}} Category:Nasdaq