• 15 Jan 2014 at 3:26 PM

Nasdaq Quits Thankless Job It Isn’t Any Good At

You’ll have to get your quote and trade data from someone else (by which we mean the New York Stock Exchange). In two years. Maybe.

In its Nov. 25 letter to the chairman of the committee overseeing its SIP, Nasdaq notified the group that the letter “will serve as notice” of Nasdaq’s termination of agreements to operate the SIP. The letter said it was “impossible” to move forward without the committee quickly approving Nasdaq’s recommendations for upgrading the SIP. The recommendations had been given to the committee about three weeks earlier.

Committee members felt the negotiations were progressing and were surprised by Nasdaq’s move, according to a person familiar with the matter….

“Operating the SIPs doesn’t bring a lot of revenue, but you get yelled at when it breaks down,” said Larry Tabb, chief executive officer of the market-research firm Tabb Group LLC. “There isn’t a lot of value in putting your best and brightest into a business that isn’t at the center of your company anymore.”

Nasdaq Cancels Deal to Operate Data Feed [WSJ]

5 comments (hidden to protect delicate sensibilities)
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Comments (5)

  1. Posted by MFIN Grad | January 15, 2014 at 3:56 PM

    Great headline

  2. Posted by Guest | January 15, 2014 at 4:26 PM

    Pithy, funny. WHERE DID YOU PUT THE REAL SHAZAR?

  3. Posted by Catamite Capital | January 15, 2014 at 5:04 PM

    Shazar, I think that headline was meant for your dream journal…

  4. Posted by MacCBOE | January 15, 2014 at 10:55 PM

    Greif, buddy – get a life outside of the NASDAQ, ever heard of girls, for instance ?

  5. Posted by Guest | January 16, 2014 at 11:11 AM

    ctrl + v, straight from Shazzy's resignation template that he's been thinking of turning in… maybe.