The SEC has blocked the Nasdaq OMX Group’s plan. The plan was aimed ad offering its clients an HTF service, which is usually offered by broking companies.
The regulator spent several months considering the request. The final decision is expected to have a negative effect on Nasdaq’s intension to increase the spectrum of trading services and technologies.
It appears that Nasdaq’s plans do not correspond to the legislation regulating the work of national broking companies. This is what SEC experts think on the issue. They say it may discriminate dealers, brokers, issuers or clients.
For reference sake, Nasdaq is a US stock exchange, It specializes in tech stocks.
The chart below, courtesy of , reflects the current state of affairs in the market of Nasdaq Biotechnology Ishares:
