Nasdaq Launches PureStream in Europe – A new tool for trajectory trading

Core Insights - Nasdaq announced the planned launch of PureStream, a new volume-based trajectory trading solution for EU shares, expected to launch in Q1 2025 pending regulatory approval [1][2] - PureStream aims to enhance price and liquidity discovery for institutional investors by utilizing open-ended liquidity transfer rates, allowing for better execution outcomes [1][3] - The introduction of PureStream in Europe reinforces Nasdaq's commitment to innovation and its leadership in technology solutions for the global economy [3] Group 1 - PureStream will provide a venue-operated service for trajectory trading, facilitating interactions among institutional investors with similar execution goals [1][2] - The solution allows institutional investors to minimize market impact and automate order execution by trading a percentage of future market volume at the volume-weighted-average-price (VWAP) [1][2] - The launch of PureStream underscores Nasdaq's commitment to offering world-class platforms that meet the evolving needs of global capital markets [2][3] Group 2 - PureStream is already available in the US and Canada, indicating a successful initial rollout before its European launch [1] - The service is designed to improve execution for long-term trajectory orders by pairing trading interests in open-ended streaming batches, moving away from reliance on single point-in-time liquidity sourcing [2] - Nasdaq's introduction of PureStream in Europe is seen as a significant milestone in advancing streaming globally [1][3]