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To: TFF who wrote (8634)	1/18/2001 6:36:15 PM
From: LPS5	Read Replies (1) \| Respond to of 12617

Nasdaq Delays SuperSoes System to May at Earliest Washington, Jan. 18 (Bloomberg) -- The Nasdaq Stock Market delayed installation of a speedier trading platform for the third time following testing problems, a Nasdaq official said. Nasdaq's automated SuperSoes system, which is due to handle about half the volume from the overburdened SelectNet system, was originally scheduled to go into effect in March 2000. Now, it won't begin until May of this year at the earliest, Nasdaq senior vice president Dean Furbush said. ``This means that we don't get to move as fast to a more efficient way of trading,'' Furbush said in an interview. Tests this weekend showed that SuperSoes, which is temporarily to become Nasdaq's main trading platform, would have technical problems shortly after the market opens in the morning, Furbush said. Problems also surfaced in trying to coordinate the systems among Nasdaq and its dealers and vendors, he said. Nasdaq, the second largest U.S. stock market, has delayed SuperSoes at least until after the market fully converts to decimal stock prices in April. Nasdaq will suspend testing of SuperSoes now and resume it in April, Furbush said. The delay of the scheduled Jan. 22 implementation date was reported in today's Wall Street Journal. SelectNet was plagued by backlogs and delays last spring. SuperSoes reduces the number of messages that need to be sent between potential buyers and sellers, and increases the rate at which orders are filled, Furbush said. SuperSoes is to provide a bridge to Nasdaq's SuperMontage platform, due to go into effect by early next year, which will centralize display of customer orders by showing three of the best quotes for any stock. © Copyright 2000, Bloomberg L.P. All Rights Reserved.