SEC Approves ADF For Nasdaq Securities

The Securities and Exchange Commission has approved the NASD’s Alternative Display Facility (ADF) for Nasdaq securities only. However, it should still launch on schedule today, Monday July 29. The ADF is designed to act as a display alternative to Nasdaq’s SuperMontage trading and display system. It will allow NASD market makers and ECNs to publish quotations for and report trades in Nasdaq securities. The NASD will require ADF participants to provide el

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