Nasdaq also said that other fees now assessed in connection with SuperSoes will be reduced or eliminated.
For example, there will be no charge for internalizing, or self-preferencing, at the best bid and offer, and no order-entry fee for nondirected orders. That eliminates the $0.10 SuperSoes order-entry fee.
There also will be a reduction of the cancellation fee to $0.01 from $0.25 for nondirected and preferenced orders. Execution fees for SuperMontage will be the same as for SuperSoes, including $0.02 per share to access liquidity and a $0.01-cent-per-share liquidity-provider rebate.
The Securities and Exchange Commission still has to
approve the new pricing plan.
The new trading platform will also offer multiple price levels for each stock quoted on a single screen. Customer testing of SuperMontage will begin this month.
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