01/05/04
BRIEF OBJECTS
NASDAQ, PRIMEX END PACT
The Nasdaq Stock Market has ended its exclusive rights agreement to operate the Primex Auction System with Primex Trading, according to officials. Nasdaq will discontinue the service on Jan. 16; however, Primex is free to re-license the technology. The system offered a competitive auction to market makers in securities that are mostly auto-executed on ECNs and Nasdaq systems (TTW, July 22, 2002). The decision to close the operation is part of Nasdaq's ongoing cost
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