PDF The NASDAQ Workstation

[Pages:4]The NASDAQ Workstation

Everything You Need to Make Markets Quickly and Reliably

The NASDAQ Workstation?, a data-rich quoting and trading product, offers your firm extensive market making capabilities. Our web-based Workstation eliminates high connectivity costs, cumbersome software and allows market participants to trade almost anywhere.

Product Highlights

? F ull Featured: Ability to quote or trade any U.S. equity on one platform.

? U ser-Friendly: Designed from the ground up with direct input from traders.

? R eliable: Re-architected data sources proven to be extremely reliable.

The Dynamic Quote (DQ) Window

? Customize quick launch buttons to choose the functions you use the most

? Pre-set your quantities, routing strategies, TIFs and order types with customizable quick order entry

? Save your last 20 security look-ups ? Real-time prints

Execute Trades Faster and Easier: ? Chart individual stock prices minute-by-minute starting at

Market Open. ? Maximize your screen real-estate: Expand or collapse

sections of the DQ Window to allow you to see only what is most important to you. ? Right click directly on any price level shown in the montage to launch an order or look up an MPID's phone number.

Extremely Affordable

Your firm can get all of the functionality of the NASDAQ Workstation for the low cost of $475 per user per month. And since you connect via your existing internet or extranet connection, there are no additional installation fees and no special hardware is required. Whether the NASDAQ Workstation is used for primary trading, back-up or disaster recovery, it is extremely affordable.

NDAQ

GO

NASDAQ STOCK MKT INC CUSIP: 631103108

NGS Market Open

Cross Data Order Entry Quote Mana... Order/Ex Sc... Time and Sa... ACT Trade E... ACT Trade S...

Last: 31.75

P

PCL: 32.08

Hi:

NOOP: 32.07 NOCP:

-0.33 12:00 Last Vol: 403,666

32.24

Low:

31.75

lmb: 950 S Paired: 7787

Q

11

31.75 NBBO 31.76

9

Q

B: Price

Size

DQT

PQT

A: Price

Size

0.01

Order Blotter Market Minder

Ticker Trade Mana...

Indices

Forces: 33 | 650

Velocity: 683 | 324

NSDQ

11

EDGX

3

B 10@MKT

ARCX

1

B 100@MKT

MSCO

1

B 1000@MKT

CINN

2

FBRC

1

FPKI

1

PIPR

1

AUTO

9

GSCO

1

CBOE

1

WCHV

1

COWN

1

SDLR

1

UBSS

11

PERT

3

JEFF

1

TWPT

1

31.75

31.76

9

NSDQ

31.75

31.76

2

31.74

31.76

2

31.74

31.85

1

31.73

31.87

1

ARCX CINN BTRD FPKI

S 10@MKT S 100@MKT S 1000@MKT

31.73

31.89

3

EDGX

31.72

31.89

1

CBOE

31.71

31.89

1

GSCO

31.70

32.00

1

FBRC

31.66

32.04

1

PIPR

31.62

32.10

1

TWPT

31.57

32.11

1

COWN

31.51

32.25

1

MSCO

31.51

32.34

1

CANT

31.50

32.35

1

NITE

31.50

32.40

55

UBSS

3D1.5y0 na3m2.4i5c Quo10te WinCDdRoG w

31.50

32.50

3

PERT

31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75 31.75

100 P 100 P 300 P 100 P 100 P 200 D 100 Q 100 P 200 D 100 P 200 P 100 Q 200 P 200 D

Trade Any Equity from Any U.S. Market

The NASDAQ Workstation gives users access to deeper pools of liquidity as well as the ability to route to other market centers. The NASDAQ Workstation is your gold source for trading and critical market data, offering: ? Real-time NASDAQ and OTCBB quotes and the ability to

purchase CQS (NYSE-/Amex-listed) data at exchange rates ? Trade Reporting and ACTSM scans ? Access to NASDAQ's Opening, Closing, Intraday/Post-

Close, IPO and Halt resumption Crosses ? Net Order Imbalance Indicator (NOII) which disseminates

imbalance information during the NASDAQ Opening and Closing Crosses ? Depth of the NASDAQ book (BookViewer) ? Quoting ? Order-entry ? Market Minder ? Real-time order blotter ? Time & Sales data for all markets ? Contact information for all NASDAQ market participants ? Multiple tickers -- up to three tickers with up to 90 stocks in each ticker ? ACES? routing (broker-to-broker routing) ? Ability to scan for open orders and executions

Access to the NASDAQ Crossing Network

NASDAQ has led the way in crossing technology and continues to bring increased transparency to crossing products in the market. NASDAQ Workstation customers have access to participate in any of the NASDAQ crosses directly from their Workstation.

The NASDAQ Opening and Closing, IPO and Halt Crosses. These crosses enable market participants to execute OnCross orders and provide unparalleled transparency. In the final moments leading up to the NASDAQ Opening and Closing Crosses, customers have access to NOII which disseminates imbalance information to indicate where the interest is (buy or sell) and what the final price will be.

Order Entry - The NASDAQ Workstation -- Web Page Dialog

Symbol

Buy Sell Short Exempt Branch SQ#

Order Type

Limit

Display Quantity

Total Quantity

User Order ID

Price

Routing

STGY

TIF

IOC

Pegged Orders

Reg

Rev

O set

Cap Price

Display

Attrib

IntrMkt Sweep Capacity

Received Date MM/DD/YYYY 3/30/2007

Discretionary O set

Close

B: 000.00

A: 000.00

Status:



L: 000.00

Send

Trusted sites

Clear

Order Entry

MarketMind - Microsoft Internet Explorer provided by NASDAQ

File Edit View Favorites Tools Help

Address

Market Mind Manage Lists Save Layout

Security Cons Last Bid Ask

PCL High Low

IBM 77.00 76.99 77.02 77.02 77.93 76.91

CIEN 3.86

3.86 3.87 3.97 4.14 3.85

MSFT 21.55 21.55 21.55 21.71 22.03 21.53

NDAQ 24.85 24.82 24.86 25.29 26.20 24.60

ORCL 13.26 13.26 13.26 13.25 13.54 12.23

TXCC 1.91

NQ NQ 1.90 1.98 1.85

SIRI 4.04

4.03 4.04 4.11 4.12 4.01

GOOG 381.95 381.94 381.95 381.54 387.00 378.12

EBAY 30.58 30.58 30.59 30.11 31.19 30.11

BABY 11.40 11.40 11.41 11.37 11.50 11.28

XMSR 13.30 13.30 13.31 13.39 13.49 13.16

TASR 7.68

7.68 7.69 8.57 8.565 7.28

Volume 4933700 15790874 77788697 2738428 23035406 684412 36132661 5486326 13607034 120962 5602670 3442323

Go

Symbol List: Tech Stocks

$Change %Change Last Size

-0.02

-0.02

-0.11

-0.11

-0.16

-0.16

-0.44

-0.44

0.01

0.01

0.01

0.01

-0.07

-0.07

0.41

0.41

0.47

0.47

0.03

0.03

-0.09

-0.09

-0.89

-0.89

Open Trade Time

14:26

3.97

14:26

21.72 14:26

25.01 14:26

13.24 14:26

1.90

14:23

4.08

14:25

380.43 14:26

30.11 14:26

11.30 14:24

13.40 14:25

8.50

14:25

Market Minder

Tuesday, May 29, 2007

ndaq

Open/Close NOII Data

View 50 by Highest Imbalance

View 50 by Highest Price Variance

View IPO/Halt Imbalances

GO Save Portfolio

View Saved Portfolio

Time

Symbol

Paired Shares

15:50:55 15:50:55 15:50:55 15:50:55 15:51:55 15:51:00 15:51:00 15:51:01 15:51:01 15:50:55 15:50:55 15:50:55

AMIS SUNW SIRI MSFT CSCO INTC IEAM YTEC WOLF ORCL SANM CNXT

1,562,682 298,928 46,179

2,649,241 610,622

3,384,051 11,200 802 40,129

208,361 40,182 40,285

Imbalance Shares

436,689 118,851 96,736 86,163 66,793 63,821 63,800 39,198 35,570 34,253 33,845 33,127

Imbalance Side

B B S S S S S B S S S B

Current Reference

Price

$12.69 $5.05 $2.92

$30.77 $25.91 $22.31

$5.27 $8.72 $14.15 $19.32 $3.53 $1.27

Near Indicative Clearing Price

$12.75 $5.05 $2.92

$30.75 $25.91 $22.30

$5.22 $8.75 $14.15 $19.32 $3.53 $1.27

Far Indicative

Price $12.80

$5.05 $2.92 $30.51 $25.68 $22.13

$14.15 $19.14

$3.43 $1.48

No Indicative Price Variance

Price

Indicator

Market Buy

Market Sell Market Sell

0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99% 0 - 0.99%

Closing Cross Volume

NOOP

NASDAQ Crosses Window

The NASDAQ Intraday and Post-Close Crosses. Access our fully anonymous crosses during the trading day. These crosses are designed to execute large trades and to gain access to highly-concentrated liquidity without moving the market. These crosses occur at 10:45 a.m.; 12:45 p.m.; 2:45 p.m. and 4:30 p.m., Eastern Time.

Better Trade Reporting

Trade reporting via the NASDAQ Workstation is available to all firms that currently report trades to NASDAQ. Benefits include: ? P ersonalized risk management. With the NASDAQ

Workstation, you have the ability to see your Summary Risk Exposure and Gross Trade Amounts, listed by stock and firm. ? I mproved trading experience. NASDAQ has enhanced trade entry with clearing price and improved trade analysis, including VWAP and Total Trade Price. ? E xtensive searching capabilities. You can perform searches that offer historical trade dates, return up to 2,000 trades for each search and provide sorting and filtering capabilities that help you find trades faster. ? Q uick and easy downloads. Trade searches can be exported to Excel and PDF files. ? R eg NMS Trade Modifier Byte Fields

Free Training

NASDAQ offers several ways to train on the Workstation at no cost. NASDAQ holds live Web Seminars for NASDAQ market participants. Each session will give new and prospective customers a full product overview and will also highlight the latest Workstation features and functionality. To sign up, please visit nnw.

You can order your NASDAQ Workstation online today by going to nnw or by calling Subscriber Services at +1 212 231 5180. If you have any questions about the NASDAQ Workstation, please call Stacie Swanstrom at +1 301 978 8101 or email us at nnwfeedback@.

Risk Management

TRS

nnw

Unique Cross Times (all times Eastern) Opening Cross: 9:30 a.m. Intraday Crosses: 10:45 a.m. | 12:45 p.m. | 2:45 p.m. Closing Cross: 4:00 p.m. Post-Close Cross: 4:30 p.m.

Reg Recon

Reg Recon is a real-time surveillance alert and report module that assists firms with compliance. This service is available as an add-on to the NASDAQ Workstation and WeblinkACT 2.0. Reg Recon provides real-time warnings that notify firms when there are potential FINRA/NASDAQ Trade Reporting FacilityTM (TRF) trade-throughs and when their firm has potentially erroneous trades that were executed on the NASDAQ Exchange.

Product Features Clearly Erroneous Trade Viewer (CETV) The CETV tracks trades executed on the NASDAQ Exchange and alerts firms of potentially clearly erroneous trade transactions. At a glance, firms can see if they have any trades which they would like to send for review. This tool makes it much easier to track trades and file within the designated period, freeing you up to focus on what matters most -- fast, profitable trading.

Clearly Erroneous Warnings ? W arnings for Potential Clearly Erroneous trades executed

on the NASDAQ Exchange. ? Reg Recon shows trades that meet the filing criteria set

forth by NASDAQ MarketWatch.

Electronic Filing of Potential Erroneous Trades ? File clearly erroneous requests directly through the

Reg Recon CETV. No more chasing trades and manually completing the filing forms. Reg Recon pre-populates the form for trades sent to NASDAQ MarketWatch for adjudication.

Reg NMS Warnings ? Warnings for FINRA/NASDAQ TRF trades that are potential

trade-throughs. ?Alerts of potential trade-through violations across all

NASDAQ systems regardless of which system was used to enter the trades. ?All warnings include a Time and Sales pop-up to show firms which quotes they potentially traded through. ? NASDAQ Self-Help declarations/revocations. ? E nhanced T+1 Reports.

Dashboard The Dashboard provides customers with one window to track both Reg NMS and Clearly Erroneous alerts. In addition, firms have the ability to see where they stand relative to the industry for: ? P otential FINRA/NASDAQ TRF trade-through violations. ? P ercentage of potential trade-throughs marked as ISOs. ? P otential Clearly Erroneous Trades executed on the

NASDAQ Exchange.

Configurable Display ? S ort warnings by multiple criteria such as time, modifier,

trade side, BBO at time of execution, status and quantity. ? F ilter data to show different views: time of trade, trades

with modifiers, trades marked as exempt, percentage away from previous NBBO and more. ? C ustomize the size of the columns. ? F rom one log-on, view data for multiple MPIDs within your firm.

Downloadable Reportrts ? Q uery up to five days of historical report data. ? Print and export reports. ? D ownload and save reports for record keeping.

Upcoming Enhancements ? E rroneous Filing Status Viewer: Reg Recon will

display trades that are accepted for review by NASDAQ MarketWatch. The status will change in real-time as MarketWatch rules on the trade. For example, if a trade is "under review," "ruled to stand" or "ruled to break", the status will be indicated in the Reg Recon CETV.

Pricing Reg Recon is available as an add-on product to the NASDAQ Workstation or WeblinkACT 2.0 for $1,000 per month, per MPID.

Contact Information For more information, please contact Stacie Swanstrom at +1 301 978 8101 or Kristen Pross at +1 212 401 8924.

*Notice of NASDAQ's declaration of Self Help is provided for informational purposes only and is not intended to relieve firms of their obligations to conduct independent self-help analysis and to adopt policies and procedures designed to achieve compliance with those obligations. Reg Recon is intended as only one source of assistance for NASDAQ member firms with their compliance obligations and does not purport in any way to ensure or guarantee compliance. FINRATM is a trademark of Financial Industry Regulatory Authority, Inc.; FINRA/NASDAQ is used under license from Financial Industry Regulatory Authority, Inc.

? Copyright 2008, The NASDAQ OMX Group, Inc. All rights reserved. NASDAQ OMX is a registered service mark of The NASDAQ OMX Group, Inc. NASDAQ and NASDAQ Workstation are registered trademarks of The NASDAQ Stock Market, Inc. FINRA is a registered trademark of the Financial Industry Regulatory Authority and is used under license from the Financial Industry Regulatory Authority Q08-0531

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