A Whole New Ballgame
Traders Magazine, May 2006
In February, ATD Financial Services, the wholesaler division of Automated Trading Desk, received NASD approval to make markets in all Nasdaq and listed securities. From its original roster of 2,500 names, ATD is now able to offer executions to retail broker-dealers in over 8,000 National Market System stocks. The ramp-up is a milestone for ATD, a firm that came out of nowhere in 2002 to become one of the pacesetters of the wholesaling industry. The move also underscores the dramatic transformation of a business remade by regulatory fiat and computer algorithms.
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