Financial Services Industry
Industry: Email Alert RSS FeedNasdaq is set to replace the OTC Bulletin Board.
Financial News, January, 2003
The Nasdaq Stock Market released more details about its plan to replace the OTC Bulletin Board with a new trading system.The over-the-counter market will be replaced by a formal stock exchange that contains less than half of the Bulletin Board members, has stringent listing and reporting requirements, and has an index so investors can track its movement.
The new exchange will be called the BBX, for Bulletin Board Exchange, and Nasdaq will engage in formal surveillance and support of its member companies, said Staci Warden, a former U.S. Treasury Department economist hired by Nasdaq to be director of the BBX.
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