Financial Services Industry
Industry: Email Alert RSS FeedThe ADF Moves into the Reg NMS Era.(Alternative Display Facility)(Regulation NMS)
Traders, November, 2006 by Bresiger, Gregory
NASD's sometimes-maligned Alternative Display Facility (ADF) is pushing to become a more formidable competitor to Nasdaq's and NSX's trading platforms.
That's because ADF will be transacting American Stock Exchange and New York Stock Exchange-listed securities early next year as part of a package of changes triggered by Reg NMS, which kicks in next year.
"When NMS no longer requires Intermarket Trading System (ITS) connectivity, ADF will handle Amex and NYSE securities," Steve Joachim, executive vice president of Transparency Services for NASD, told Traders Magazine.
The ITS is expected to cease operations in February, the NASD said in a recent regulatory filing approved by the Securities and Exchange Commission. The NASD, in the same filing,...
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