SuperMontage, a real-time, fully integrated order display and execution system, will run on 24 Hewlett-Packard NonStop S86000 servers with 16 processors each and will be the first commercial deployment of HP's latest high-end server.
WorldCom will manage a telecommunications backbone connecting 1,000 trade locations across the US to a main data centre and a backup site.
Nasdaq chief information officer Steve Randich is not worried about the impact of WorldCom's financial problems on its performance.
The network is "separate and distinct and the WorldCom employees are dedicated to the account", Randich said. "We're confident WorldCom will be our provider for the next several years," he added.
Nasdaq will open SuperMontage with a few test stocks and then include 10 additional stocks each week thereafter.
Nasdaq's existing order display system, SuperSOES, will continue to be used for transactions of less than a million shares. It displays the best proposed purchase and selling prices for a stock, along with who is participating in the market for that stock and each issue's most recent transaction.
SuperMontage will aggregate the top five proposed purchase and selling prices for a stock, giving traders more access to possible trades and increasing transparency, said Adena Friedman, executive vice-president of data products.
The new system can process almost 5,000 transactions per second and represents a doubling of Nasdaq's network bandwidth. It also offers more scalability for adding servers and processors.
SuperMontage's back-end systems consist of 24 Hewlett-Packard NonStop S86000 servers, 22 Stratus Continuum Series 400 servers supporting various applications and 165 Dell servers running Windows 2000 to support new electronic products and surveillance software.
Nasdaq also upgraded its Unisys 6800 mainframe to 7802, increasing processor speed from about 300MHz to 600MHz.