New ecn NQPX

Not an ECN. The MPID NQPX referrs to the new US equity stock exchange PSX owned and operated by NASDAQ OMX.

See http://www.nasdaqtrader.com/Trader.aspx?id=nasdaqpsx

NASDAQ re-activated the equity exchange that they got when they bought PHLX, but using their own technology.

PSX is different because it uses price/pro-rata-size allocation instead of price-time.

Pro-rata allocation means that resting orders at the same price level get to fill part of the incoming order according to their relative sizes (instead of oldest order first)
 
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