NASDAQ senses opportunity for NYSE stocks
At the top of Duncan Niederauer's to-do list: Do something about market share for Big Board-listed stocks. It's no secret that the NASDAQ has been chipping away at its share. The NASDAQ's latest move was the rollout of a version of its Select Market Maker Program to NYSE companies. The program allows for companies to interact with NASDAQ market makers and glean market intelligence about how their stock is trading. Of course, the NYSE used to tout this as an advantage of its specialist system. But more specialists continue to bite the dust. Last week, Van der Moolen Holding and Susquehanna International Group, two of seven remaining specialists--said they were ending shuttering their specialist operations. We'll see if this takes off. So far, about 80 out of more than 3,000 listed NASDAQ companies use the program, which was rolled out to NASDAQ listees in July.
For more:
- here's an AP article
Related article:
- NASDAQ vs. NYSE, another round
Read more on: NYSE




Comments