Die Tage der Manipulationen sind gezählt - OTC-BB bekommt elektronisches Handels-System - 500 Beiträge pro Seite

[Gilligan]

Hoffen wir, dass die Pläne schnell umgesetzt werden:

Oct. 12 /PRNewswire/ -- The National Association of Securities
Dealers, Inc. (NASD)(R) today announced that the NASD Board of Governors has
approved a proposal to create an automated order delivery system for the OTC
Bulletin Board(R) (OTCBB). The need for an automated system arose because of a
significant increase in trading activity in the over-the-counter market. The
system-which will promote a more efficient market and enhance investor
protection-requires approval from the Security and Exchange Commission (SEC).
The proposed order delivery system will enable market participants to
execute directed liability orders (orders that when delivered to a
broker/dealer imposes an obligation to respond to the order). In addition,
the system will allow users to enter, cancel, correct, accept, decline, or
execute full or partial orders.
"This order delivery system will provide a fair and more efficient market
for all market participants and all investors, especially during periods of
increased market activity," said J. Patrick Campbell, Nasdaq`s Chief Operating
Officer. "The OTCBB today is far different than it was at its inception ten
years ago because of an explosion in retail participation and rigorous efforts
by Nasdaq and the NASD to protect investors and the public interest."
The wealth of information for OTC securities on the Internet and the
growth of online trading systems that are accessible to individual investors
are primary reasons for the explosion in trading activity in the OTCBB. From
1995 to 1999, average daily share volume rose from 41 million to 323 million-
and increase of 282 percent. In the first quarter of this year, an average of
more than one billion shares were traded each day.
Presently, all order delivery, communication and negotiation between two
firms regarding an OTCBB trade are done manually over the telephone. Among the
main objectives of providing an order and delivery and execution system for
the OTCBB are:
* to increase the execution speed of customer orders, thus providing a
better opportunity for best execution;
* to enable market participants to contact each other electronically to
send and execute orders;
* to complement the increase in volume and the change in trading behavior
in the OTCBB; and
* to provide the infrastructure necessary to enact new rules aimed at
investor protection.
The National Association of Securities Dealers, Inc., is the largest
securities-industry, self-regulatory organization in the United States. It is
the parent organization of The Nasdaq Stock Market(R), The American Stock
Exchange(R), NASD Dispute Resolution, Inc., and NASD Regulation, Inc. For more
information about the NASD and its subsidiaries, please visit the following
Web sites: http://www.nasd.com ; http://www.nasdaq.com ; http://www.amex.com ; http://www.nasdr.com ; or
the Nasdaq Newsroom(SM) at http://www.nasdaqnews.com .
SOURCE National Association of Securities Dealers, Inc.
Web Site: http://www.nasd.com




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