Source: Zealous ATS
Atlantic Syndication Network, (BULLETIN BOARD: ASNI.OB) Zealous ATS, LLC or ZATS, a global electronic marketplace for restricted and illiquid securities announced that it will facilitate the trading and settlement of Rule 144a securities creating a centralized marketplace for issuers, underwriters and investors including securities previously issued on other electronic platforms such as Goldman Sachs GS TRUE, NASDAQ's Portal Marketplace, OPUS-5, FBR PLUS, Bear Stearns BEST Markets, and JP Morgan's 144a PLUS.
ZATS President Michael Van Patten stated, "We feel that investors of these securities will want a neutral alternative source of liquidity and to that end we will use our ZATS 'Global AXess' Portal for the primary issuance and secondary trading of rule 144a securities, which we believe will provide improved transparency and price discovery for domestic as well as internationally issued 144a securities, and we expect to receive cooperation from the other platforms to help create a more fluid marketplace for these securities." Mr. Van Patten went on to say, "Even though these newly launched platforms provide better access for issuers and investors of these securities, there still does not exist a centralized marketplace, and because ZATS is a neutral platform open to both buy and sell-side participants and only facilitates transactions, we believe makes ZATS a viable centralized marketplace."