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To: TFF who wrote (10501)	9/6/2002 6:25:54 PM
From: LPS5	Read Replies (2) of 12617

Nasdaq's SuperMontage Must Wait Until Oct. 11 to Open, SEC Says Fri, 6 Sep 2002, 6:24pm EDT Washington, Sept. 6 (Bloomberg) -- The Nasdaq Stock Market must wait until Oct. 11 to open its SuperMontage trading system because some electronic trading networks certified that they want to use an alternative system, the Securities and Exchange Commission said. The SEC, in giving final approval to the SuperMontage last week, said Nasdaq could open the new system today if none of the rival networks, called electronic communications networks, or ECNs, wanted to use the NASD's so-called Alternative Display Facility. If at least one ECN said it wanted to use the other facility and needed extra time to test its system, the SEC said it would delay the opening of the SuperMontage until Oct. 11. The SEC said in a news release today that at least one unnamed market participant said it wanted the extra time to adapt and test its system. The commission also said today it intends to hold ``comprehensive hearings'' this fall to consider ``a number of market structure issues.'' © Copyright 2001, Bloomberg L.P. All Rights Reserved.

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