Nasdaq Announces First Exchange AI Powered Order Type Approved By the SEC
Midpoint Extended Life Order (M-ELO)
What if there was an order type designed for longer-term investment horizons?
Meet M-ELO, the order type that will only execute against other M-ELO order types, matching like-minded longer-term investors on a broker-neutral exchange.
Support
Interested in incorporating M-ELO into your trading strategy? Contact us to learn how the order type can work for you.
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The Midpoint Extended Life Order (M-ELO)
What are the benefits of M-ELO?
M-ELO Helps You Find Like-Minded Counterparties
M-ELO orders will only execute against other M-ELO order types, matching like-minded longer-term investors on a broker-neutral exchange.
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M-ELO orders will only execute against other M-ELO order types, matching like-minded longer-term investors on a broker-neutral exchange.
The Midpoint Extended Life Order is Non-Display
M-ELO is off book and acts like dark pool trading, meaning it reports to the tape like other midpoint executions.
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M-ELO is off book and acts like dark pool trading, meaning it reports to the tape like other midpoint executions.
M-ELO Does Not Require Costly Connectivity Updates
When trading with M-ELO, market participants can use existing exchange connectivity to avoid costly technology updates.
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When trading with M-ELO, market participants can use existing exchange connectivity to avoid costly technology updates.
Related Solutions
U.S. Equities
Nasdaq offers three exchanges renowned for industry leading technology and service at the center of price formation.
FINRA/Nasdaq Trade Reporting Facility
Any trades that occur outside Nasdaq Nordic Central Limit Order book, must be reported to the relevant order book.
Key Features
- One-Party Report
- Two-Party Pre-Locked Report
- Break Locked-in Trade or Cancel Trade