SuperMontage

A fully integrated order display and execution system for the trading of Nasdaq-listed securities. Nasdaq’s SuperMontage trading platform facilitates better prices for investors while allowing brokers to better serve their customers by providing increased transparency. SuperMontage allows firms to list multiple quotes and orders for each security, and permits market makers to input all or part of their buy and sell interest – with or without other traders knowing their identity. In 1999, the idea behind SuperMontage was conceived during a discussion on how to more efficiently aggregate, display and access trading activity. The U.S. Securities and Exchange Commission (SEC) unanimously approved SuperMontage on January 10, 2001. Later, on August 29, 2002, the SEC unanimously approved trading on the new SuperMontage trading platform beginning October, 2002.

SuperMontage replaced earlier systems including SOES and SuperSoes. Nasdaq’s SuperMontage trading platform went live with a phased-in rollout in October 2002. Five securities traded on the first day of the SuperMontage, including WVS Financial Corporation (Nasdaq: WVFC); Willamette Valley Vineyards, Inc (Nasdaq:WVVI); Waste Industries USA, Inc (Nasdaq: WWIN); Excel Technology, Inc. (Nasdaq: XLTC); and Yardville National Bancorp (Nasdaq: YANB). Additional securities were added over the following weeks, until all Nasdaq-listed securities were trading on the SuperMontage by the end of the year.