Nasdaq plans to offer a new order type aimed at long-term investors, the company announced Monday. The exchange operator expects to have the new order available for use by the end of year, said Nasdaq Chief Executive Officer Bob Greifeld, pending approval from the U.S. Securities and Exchange Commission. The order will allow an investor to get priority in the trading queue by committing to not change or cancel their trade for a period of one second.
“This is a revolutionary new market structure wrapped up in an order type,” Greifeld said in an interview. “I think the great innovation of this approach is the simplicity of it.”
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Citadel Securities told the SEC that trading tokenized equities should remain under existing market rules, a position that drew responses from various crypto industry groups. @ShannyBasar for @MarketsMedia:
SEC Commissioner Mark Uyeda argued that private assets belong in retirement plans, saying diversified alts can improve risk-adjusted returns and that the answer to optimal exposure “is not zero.” @ShannyBasar reporting for @MarketsMedia:
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