Nasdaq Said to Plan End to Role Running Stock Price System
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Nasdaq OMX Group Inc. gave notice that it no longer wants to run the marketwide quote service that broke down and froze thousands of its U.S. stocks in August, according to a person with direct knowledge of the matter.
Nasdaq’s decision means another company must be found to run the securities information processor, or SIP, according to the person, who asked to not be identified because the discussions are private. Nasdaq’s role is poised to stop around the end of next year, the person said.