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By Stuart Townsend, Archipelago

NASDAQ SUPERMONTAGE

Barring additional setbacks, Nasdaq's proposed combined quote-display and transaction system, Supermontage, will debut in the fourth quarter of 2001. The exact nature of Supermontage still must be decided, however, and the system requires approval by the Securities and Exchange Commission. Thus, there is hope the system will be designed in a way that places the interest of investors first and Nasdaq second, not vice versa.

In theory, Supermontage will boost the overall accuracy and efficiency

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