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STA to SEC: Forget the ADF

Traders Magazine, August 2002

Gregory Bresiger

The Alternative Display Facility (ADF), which received the SEC's approval, is expensive and unnecessary. It should be shut down because Nasdaq's SuperMontage platform will work to improve liquidity. That's what officials of the Security Traders Association have been saying in recent communications with the Securities and Exchange Commission. STA officials continue to argue that the SuperMontage is going to improve the marketplace because the quality of executions will be better. However, STA officials say they don't have the same confidence in the National Association of Securities Dealers' ADF.

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