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Article: NASD Adopts Nasdaq's OTCBB.(National Association of Securities Dealers)(OTC Bulletin Board)(Brief Article)
- Article from:
- Traders
- Article date:
- August 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It's now official. NASD, a regulator that has closed many a boiler room, said it is going to take possession of Nasdaq's OTC Bulletin Board (OTCBB) as reported here last month (See Traders Magazine Washington, July).
"I don't know whether to send them my congratulations or my condolences," one trading industry executive, who declined to be quoted by name, told Traders Magazine.
Nasdaq will continue to provide the technology and the connectivity used to carry out the day-to-day functions of the OTCBB and the OTC trade reporting while the OTCBB business will be owned, managed and continue to be regulated by NASD, Nasdaq officials said. The NASD's new ...