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Enhancing Long-Term Liquidity – Nasdaq Introduces the Extended Life Order .

The Extended Life Order is Nasdaq's latest move to make capital markets more transparent and to enhance the quality of execution for investors.

Enhancing Long-Term Liquidity – Nasdaq Introduces the Extended Life Order

By Nelson Griggs / Executive Vice President of Listing Services at Nasdaq

For 45 years, Nasdaq has been at the forefront of initiatives that make the capital markets more transparent, resilient and efficient. Our experience as regulator, advocate and technologist form the foundation of our leadership position. As part of that commitment and based on feedback from the buy-side and issuers, Nasdaq will introduce the Extended Life Order, a new order type designed to enhance the quality of execution for investors, pending SEC approval. 

The Extended Life Order is intended to foster long-term liquidity and benefit investors who are willing to commit liquidity for a minimum time period. Extended Life Orders will rest on the book for a minimum fixed resting time and receive priority over other orders entered at the same price. During this time, orders could not be amended or cancelled and would be eligible for execution during the committed resting time. 

We will continue to collaborate with our clients through the development of the specifics around how the order will operate as we move closer to implementation. 

Watch this Bloomberg interview featuring Bob Greifeld, Nasdaq CEO discussing the Extended Life Order here > 

Come back to MarketInsite in the coming days and weeks to learn more about the Extended Life Order, we'll provide some FAQs and additional information. 

For more details on Nasdaq’s commitment to the markets, please visit business.nasdaq.com/commitment.

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