Dealer-backed electronic communication network Brut is to participate in SuperMontage, Nasdaq's next-generation trading platform.
The new quote-and-order processing system, which will allow participants to enter several price levels, has completed the first round of internal testing and is currently carrying out external customer testing. SuperMontage is scheduled for a phased-in implementation in late July 2002.
Dean Furbush, executive vice president of Nasdaq transaction services, notes: "We have had more than 75 market makers and ECNs participate in testing of our next-generation trading platform, and expect additional participants to join and test with us as we approach our July 29 roll out date."