NASDAQ OMX announced in an Equity Trader Alert that it expects to launch a third U.S. equity trading platform in May 2010, pending regulatory review and approval by the Securities and Exchange Commission. The third market, to be named NASDAQ OMX PSX, or simply PSX, will be organized under the license acquired from NASDAQ OMX’s 2007 purchase of the Philadelphia Stock Exchange. According to NASDAQ OMX, the new PSX will feature a “price-size priority pro-rata” structure in contrast to the price-time priority models offered by the NASDAQ Stock Market and NASDAQ OMX BX.

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