A Bulletin Board Renaissance.(SEC approves rules that will force the OTC Bulletin Board exchange to become more electronic)

Traders, July, 2003 by Lite, Keith

The OTC Bulletin Board has been in the Dark Ages for more than a decade. Since 1990, this Luddite-type trading platform has operated by telephone, old-fashioned order-delivery, and with an expensive infrastructure. So it's logical to expect the Bulletin Board, which originated as a quote dissemination mechanism, to evolve into something better: a dynamic, transparent environment.

In this environment, clients might expect to benefit from many of the electronic and other changes that have improved other securities markets. Yet Bulletin Board stocks still largely trade today by telephone, the same way they did a decade ago.

Indeed, the Securities and Exchange Commission has recognized the OTCBB market needs improvement. The SEC recently approved the Limit...

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