Predictably, short-seller advocacy groups lamented the toughness and cost burdens of the new regulations, under which a trader wanting to short a particular stock has to find a price above the prevailing national best bid and offer price if the stock has already fallen 10% or more from the previous trading session.

FORBES: SEC's New Circuit Breaker Falls Short Of Uptick Rule

Its algorithms can suggest the best price to bid for keywords, based on where the ad will appear on the results page and how many other bidders are present, factoring in constantly changing auction prices.

FORBES: The Keyword Keeper

ISE's system will match orders at the midpoint of the National Best Bid and Offer, which is the current quote system traders use to price buy and sell orders.

FORBES: A New Kind Of Exchange