--- title: Simplicity Is the Goal of Nasdaq’s New Order Type, CEO Says description: Simplicity Is the Goal of Nasdaq’s New Order Type, CEO Says --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/simplicity-goal-nasdaqs-order-type-ceo#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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The exchange operator expects to have the new order available for use by the end of year, said Nasdaq Chief Executive Officer Bob Greifeld, pending approval from the U.S. Securities and Exchange Commission. The order will allow an investor to get priority in the trading queue by committing to not change or cancel their trade for a period of one second. “This is a revolutionary new market structure wrapped up in an order type,” Greifeld said in an interview. “I think the great innovation of this approach is the simplicity of it.” The new offering comes as IEX Group Inc. prepares to begin trading on Friday after winning approval to operate as a full-fledged stock exchange. The company, which currently runs a private trading venue known as a dark pool, has for years courted long-term investors with its “speed bump,” which slows orders down by 350 microseconds with the aim of dulling the advantages of high-speed traders. 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