Nasdaq to Launch ETF Marketplace

NASDAQ OMX Group Inc. (NasdaqGS: NDAQ) on Monday said it plans to launch a specialized ETF marketplace next month.

The exchange said it will re-launch NASDAQ OMX PSX in an effort to create the leading marketplace for exchange traded products.

“The price-time exchange will offer unique market making programs and features designed to provide robust liquidity to institutional and retail investors,” NASDAQ said in a press release.

PSX will re-launch in May, pending SEC approval.

Reports surfaced last month that NASDAQ was planning the move. [Nasdaq Targets ETF Trading]

PSX will introduce a lead market maker program “designed to narrow spreads and increase displayed size in ETP securities,” NASDAQ said.

“PSX is a key piece of our larger strategy to better service the ETP industry with a platform designed to incent high-quality liquidity, market incentive programs and ETP-specific functionality,” said Eric Noll, Executive Vice President of Transaction Services U.S. and U.K. at NASDAQ OMX.

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