Nasdaq as a Competitor
Traders Magazine, July 1998
Once the National Association of Securities Dealers announced its deal with Jersey City-based OptiMark Technologies, Bernard L. Madoff founder of third-market firm Bernard L. Madoff Investment Securities is reported to have said that the NASD has "come out of the closet as a major competitor."
Closeted or not, self-regulatory organizations (SROs) are undoubtedly competing with members. Given the competitive stress of preserving and expanding their market share, there is little reason to expect SROs to perform more admirably in the future.
All TradersMagazine.com articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, online technology directory, the iPad App, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and trading strategies.