Nasdaq Unveils SuperMontage Pricing Plan

April 2, 2002 ( - SuperMontage, the Nasdaq Stock Market's new trading system scheduled for a late July launch, will have the same execution fees as the current SuperSoes system, market officials announced.

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.