10/14/99 M2 Presswire (Pg. Unavail. Online)
1999 WL 24362615
M2 PRESSWIRE
Copyright 1999 M2 Communications, Ltd. All Rights Reserved.
Thursday, October 14, 1999
NASDAQ-AMEX: Nasdaq launches the OptiMark Trading System
Washington, D.C and New York, NY -- The Nasdaq Stock Market today
launched the OptiMark Trading System, making 10 initial Nasdaq
securities available to Nasdaq market participants. The Nasdaq
securities that over 100 trade-ready buy- and sell-side customers will
be able to trade via OptiMark are:
Dell Computer Corp. (DELL) 3Com Corp. (COMS) Apple Computer (AAPL)
Starbucks Corp. (SBUX) Biogen, Inc. (BGEN) Siebel Systems, Inc. (SEBL)
USA Networks, Inc. (USAI) Synopsys, Inc. (SNPS) Biomet, Inc. (BMET)
PacifiCare Health Systems, Inc. (PHSY)
Nasdaq market participants can trade these 10 securities using the
OptiMark Trading System today at 9:45 a.m.
The Nasdaq/OptiMark application, developed by OptiMark Technologies,
Inc., of New Jersey, was integrated into the Nasdaq system by Nasdaq. It
is an electronic matching system for trading equities, which provides an
anonymous and confidential trading environment with the potential for
reduced costs. With optimal matching capabilities, the OptiMark Trading
System offers the opportunity for price improvement through enhanced
execution to institutions, market makers and traders alike. To do this
OptiMark creates a call market where trades are matched in cycles, which
occur in 5-minute intervals. This is different from the continuous
market where trades are matched continuously throughout the day.
On October 25, Nasdaq will commence trading the full Nasdaq-100
securities. By year-end, the number of symbols traded will move to 250
of the most active Nasdaq securities.
On September 30th, 1999, the Securities and Exchange Commission (SEC)
approved Nasdaq's request to integrate the OptiMark Trading System into
its existing trading network.
OptiMark Technologies, Inc., a privately held transaction services
company, offers an innovative securities matching facility which is
designed to increase the efficiency and lower the cost of trading.
OptiMark's patented design offers traders a unique, confidential way to
express their full trading interests without paying the typical market
impact costs. OptiMark is headquartered in Jersey City, New Jersey.
Additional information on the company is available at www.OptiMark.com.
The Nasdaq Stock Market lists nearly 5,000 companies and trades more
shares per day than any other U.S. market. Nasdaq is a subsidiary of the
National Association of Securities Dealers, Inc. (NASD), the largest
securities-industry, self-regulatory organization in the United States.
For more information about Nasdaq, visit the Nasdaq Web site at
www.nasdaq.com or the Nasdaq- NewsroomSM at www.nasdaqnews.com.
*M2 COMMUNICATIONS DISCLAIMS ALL LIABILITY FOR INFORMATION PROVIDED
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---- INDEX REFERENCES ----
COMPANY (TICKER): X.OPM (X.OPM)
NEWS SUBJECT: Press Release Wires (PREL)
INDUSTRY: Securities (SCR)
Word Count: 392
10/14/99 M2PW (No Page)
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