Despite its target launch of last Monday, EASDAQ remains tradeless, thanks to some cumbersome administrative hurdles. "We still have companies in the pipeline," said Mick Newman, vice president of systems at EASDAQ. But there are "legal and administrative hurdles to overcome" in registering each company for trading on the pan-European exchange. As to a new target date, Newman said, "I hope it's later this month, but it's the admission side that needs to approve the companies for trading."

In the meantime, EASDAQ has conducted about a dozen hypothetical sessions to practice the trading. "The trading side of the operation is getting more and more familiarized with the process," Newman said.