Buyers Meet Sellers Online With Computerized Crossing
THIS WEEK'S LEAD STORIES
Like mini skirts and paisley prints, the fourth market is back in fashion.
As soon as it receives SEC approval, Jefferies & Co. is expected to introduce a computerized service for matching buy and sell orders known as the Portfolio System for Institutional Trading, or POSIT.
Based in Los Angeles, Jefferies is the dominant player in the third market where exchange-listed stocks are traded by telephone over the counter. The securities firm developed POSIT jointly with Barra, a Berkeley, CA financial
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