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Nasdaq Inc. (NDAQ.O) won approval from the U.S. Securities and Exchange Commission to launch the first exchange A.I driven order.
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If successful it could increase the efficiency of the fast-paced stock market.
Nasdaq says that the approval for the dynamic midpoint extended life order (M-ELO) would speed up the frequency at which orders are matched and will reduce the market impact. This will result in better trading outcomes for investors.
The first M-ELO was released in 2018. It enables investors with long-term vision to trade with each other using a 10-millisecond waiting period. The advanced version of this will use the AI technique known as reinforcement learning to watch market behavior and also improve the quality of execution in the market by making real-time adjustments.
What is the New AI-Based Order Type
The order types are instructions that are programmed to tell exchanges how to handle the trades. The news makes its way due to the incr
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