Bloomberg Tradebook signs up to Nasd quote-display system
09 August 2002 | 3555 views | 0
Bloomberg Tradebook is to become the first market participant to join the National Association of Securities Dealers' (Nasd) Alternative Display Facility.
Nasd is currently operating the quote-display and trade-reporting facility on a pilot basis until 24 April, 2003, for Nasdaq securities only, following recent SEC approval.
As a precondition to the operation of Nasdaq's next generation trading platform, SuperMontage, the ADF is intended to satisfy a statutory requirement under the federal securities laws that the Nasd encourages fair and informative quotations by its members.
Kim Bang, Bloomberg Tradebook president, says: "We believe a commercially viable ADF is critical for the market. The recent approval of the ADF on a pilot basis, coupled with the SEC's issuance of interpretive guidance on the Vendor Display Rule have given us the certainty and transparency that are essential to participation in the ADF."