Supermontage

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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. [1] This system was retired when Nasdaq moved to a newer architecture [2] based on the acquired technology of the Island ECN in 2006. [3]

References

  1. "Introduction to SuperMontage used by NASDAQ". financetrain.com. Retrieved 2025-12-18.
  2. ""Nasdaq Singlebook".
  3. "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". Federal Register. 2006-10-24. Retrieved 2025-12-18.

Further reading