SuperMontage

AAA

DEFINITION of 'SuperMontage'

A fully integrated order display and execution system for the trading of Nasdaq-listed securities. Nasdaq's SuperMontage trading system facilitates better prices for investors while allowing brokers to better serve their customers by providing increased transparency.

INVESTOPEDIA EXPLAINS 'SuperMontage'

SuperMontage is Nasdaq's fully integrated order entry and execution system which replaced earlier systems including SOES and SuperSoes. SuperMontage allows firms to list multiple quotes and orders for each security, and permits market makers to input all or part of their buy and sell interest - with or without other traders knowing their identity. More than 5,000 transactions per second can be processed by SuperMontage. One of its most valuable features is that it shows five levels of interest rather than just the best current price. This can help investors and traders estimate more accurately an instrument's near-term price movements. Nasdaq's SuperMontage trading platform went live with a phased-in rollout in October 2002.

RELATED TERMS
  1. Electronic Communication Network ...

    An electronic system that attempts to eliminate the role of a ...
  2. Nasdaq

    A global electronic marketplace for buying and selling securities, ...
  3. Small Order Execution System - ...

    A computer network that automatically executed trades in Nasdaq ...
  4. Trading Floor

    The floor where trading activities are conducted. Trading floors ...
  5. SelectNet

    An automated trading system that facilitates electronic trading ...
  6. American Stock Exchange - AMEX

    The third-largest stock exchange by trading volume in the United ...
Related Articles
  1. Getting To Know The Stock Exchanges
    Options & Futures

    Getting To Know The Stock Exchanges

  2. The NYSE And Nasdaq: How They Work
    Options & Futures

    The NYSE And Nasdaq: How They Work

  3. The Global Electronic Stock Market
    Trading Systems & Software

    The Global Electronic Stock Market

  4. Electronic Trading Tutorial
    Retirement

    Electronic Trading Tutorial

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center