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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Mike McFarland who wrote (8060)	3/20/2000 1:59:00 AM
From: LPS5	Read Replies (1) of 12617

Pink sheet and OTCBB issues are not accessible via automated execution systems. That is true, but will not be a year from now; currently two firms have initiated projects toward that end: one to create an OTCBB/NQB ECN, and another to create an OTCBB/NQS/Nasdaq Small Cap ATS. A web-broker that allows one to enter orders for such issues is merely transferring that order to the illiquid securities desk (or OTCBB desk, whatever) for manual execution. While rare, some wholesale firms will let correspondent institutions or broker-dealers access their inventory via ACES, which might include a handful of the very liquid, widely traded (as seemingly counterintutitive as that might sound) OTCBB issues. LPS5

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