Nasdaq Leads Exodus from ITS
FRONT PAGE: NEWS ANALYSIS
NEW YORK—For the past 25 years, the Intermarket Trading System (ITS) has provided connectivity among the major exchanges in the U.S. But the announcement last week by Nasdaq officials that the electronic marketplace is withdrawing from the ITS network and implementing the SEC's Regulation National Market System (Reg NMS) has set the stage for a systematic dismantling of ITS.
"The current system that is being used cannot withstand the trading activity of the future," says Chris Concannon
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