Nasdaq receives SEC approval for AI-based trade orders

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Published Sep 08, 2023 12:40PM ET Updated Sep 10, 2023 03:00PM ET

Nasdaq receives SEC approval for AI-based trade orders

Nasdaq announced that the United States Securities and Exchange Commission has approved its request to operate the first exchange AI-driven order type on Sept. 8.

Called the dynamic midpoint extended life order (M-ELO), the new system expands on the M-ELO automated order type by making it “dynamic,” meaning it will use artificial intelligence to update and, essentially, recalibrate itself in real-time.

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Nasdaq receives SEC approval for AI-based trade orders

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