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Computerworld: Nasdaq CIO Confirms Move to Open-Source Instinet Apps

May 18, 2005, 20:30 (3 Talkback[s])
(Other stories by Lucas Mearian)

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"Nasdaq Stock Market Inc.'s CIO said last week that the exchange will scrap its proprietary SuperMontage order entry and execution system in favor of an open-source system from electronic broker Instinet Group Inc., which Nasdaq agreed to acquire last month.

"The move to switch systems is a key part of Nasdaq's effort to integrate its technology with that of Instinet and Brut LLC, which it bought from SunGard Data Systems Inc. for $190 million [€150.3 million] last fall..."

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