The United States Securities and Exchange Commission has approved Nasdaq’s request to operate its first 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. The follow-on effect should be a significant acceleration of orders placed with the system. Nasdaq says the dynamic M-ELO demonstrated a 20.3% increase in fill rates and an 11.4% reduction in mark-outs during its research and testing.
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Source: Cryptocurrency - investing.com
