Nasdaq to help raise order flow for firms
By Our Markets Bureau | 26 Feb 2002
Nasdaq Workstation WebLink will include two primary features — WebLink ACES and WebLink ACT. WebLink ACES, which is competitively priced at $199 per user per month, will allow firms to route orders to market-making firms, all through the convenience of a web browser.
WebLink ACT will have identical functionality and pricing as the current Nasdaq ACT, which costs $150 per user per month for trade report and trade scan (provided that the firm reports less than 20 trades per day), and $300 per user per month for trade report, trade scan and risk management scan.
Says Nasdaq Transaction Services associate vice-president Kevin Carrai: "Nasdaq Workstation WebLink will allow market-making firms of all sizes to compete for order flow and revenue more efficiently and cost-effectively than ever before by allowing them to sponsor and pay for order entry firm access to route orders to them via Nasdaq ACES. The service also benefits order-entry firms, since their orders can be sent directly into their market-maker's trading system, eliminating the need to call or send e-mail to have orders entered into the system."