Below the Surface


The sigh of relief should last through the summer as the remaining several thousand NMS stocks will be phased in from Aug. 20 to Oct. 8. The July debut was seen as the real proving ground for firms' new technology.

Meanwhile, on July 13, dark pool LeveL ATS, which provides non-displayed, off-exchange liquidity, reported it had hit a milestone, executing 30 million shares in one day. LeveL was created as a joint venture by Citi, Credit Suisse, Fidelity Brokerage, Lehman Brothers and Merrill Lynch

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