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 NYSE Euronext "would be happy to" run the Nasdaq securities
information processor (SIP) that provides investors with stock
quotes and last sale prices, Duncan Niederauer, chief executive of
NYSE Euronext, told CNBC on Wednesday.
The IntercontinentalExchange Group <ICE.N> unit operates its own
SIP.
Nasdaq recently gave the committee that governs the SIP that
provides data for Nasdaq-listed stocks a two-year notice that it
will stop running the system, Reuters reported on Tuesday.
A software glitch crippled Nasdaq's SIP in August, forcing the
exchange to halt trading on stocks it lists.
Soon after, U.S. Securities and Exchange Commission Chair Mary Jo
White ordered the exchanges to come up with new protocols to improve
the resiliency of the processors.
Nasdaq presented the SIP committee, which is made up of members from
all of the U.S. exchanges, with a list of 10 recommendations to
improve the SIP, including expanding its capacity, upgrading the
testing environment for the system, and enhancing information
security.
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It also asked that the SIP be registered as a limited liability
company (LLC) and a formal contract be signed regarding Nasdaq's
operational duties.
The enhancements would take around two years to complete, but so far
the committee has not given the go-ahead on any of the
recommendations, sources told Reuters.
Frustrated by the slow pace of the negotiations with the SIP
committee, Nasdaq gave its two-year termination notice of its
agreement to run the system, but said it would continue trying to
reach a deal in the meantime.
(Editing by Sophie Hares)
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