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Article: Automating the Microcap Markets: Pink Sheets and OTC Bulletin Board Plan Non-Manual Trading.
- Article from:
- Traders
- Article date:
- November 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 Thomson Media. 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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The two distributors of automated stock quotes to over-the-counter traders are racing to be the first to debut an electronic trading system.
The development comes as surging volume on Nasdaq's OTC Bulletin Board, and on the New York-based Pink Sheets, had traders reeling earlier this year. Automated trading, they say, could help them process more trades faster. Dealers in the non-Nasdaq OTC market currently get their quotes from screens but trade by telephone.
Last month, the board of the National Association of Securities Dealers approved a proposal for an automated order delivery system for the Bulletin Board. NASD says the proposed system - which ...