Nasdaq OMX Plans ‘Minimum Life’ Orders on PSX Stock Exchange
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An exchange owned by Nasdaq OMX Group Inc. asked for permission to introduce a type of order for stocks that must last for a tenth of a second, 10 times longer than some of those placed by the fastest traders.
The Nasdaq OMX PSX market is seeking to attract volume with the orders, which would earn anyone using them a higher payment from the exchange. Equity venues employ a variety of strategies including rebates to spur market makers and trading firms to provide orders at the best prices nationally.