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Nasdaq OMX Plans to Open Third Stock Market by End of September

Nasdaq OMX Group Inc. plans to open a third equities exchange in September where it will lose money every time stocks trade, at least for a while.

Nasdaq OMX PSX plans to charge firms 13 cents to transact 100 shares while paying the providers of liquidity who trade with them 20 cents as an incentive to supply orders. The New York-based company designed the pricing to get investors to use the PSX, said Brian Hyndman, senior vice president for transaction services at Nasdaq OMX. He said the platform will start trading by the end of September, pending Securities and Exchange Commission clearance.