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Tim Quast
Traders Magazine Online News

We're All HFTs Now

In this guest commentary, author Tim Quast looks back at the history of HFT and how the market has evolved to where many firms now fit the definition of high-frequency trader.

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July 31, 2004

NASD Talks to New Dealer Market

By Gregory Bresiger

The United States Capital Markets (USCM), a group embarked on building a new OTC dealer marker, has effectively given up on acquiring the OTC Bulletin Board. However, it says it hopes to launch an alternative dealer market as early as this year.

"It seems unlikely the Bulletin Board will be sold to us," USCM leader Arthur Pacecho concedes to Traders Magazine. He said his group is now talking with the NASD about the USCM putting together a dealer market. Pacheco did not elaborate. Nancy Condon, a spokeswoman for the NASD, says it has been approach by the USCM but "we are not in discussions."