Nasdaq Preps 144A Trading Portal
The new platform will mirror most of Nasdaq's existing functions, such as negotiating and trading, but it won't provide auto execution, says John Jacobs, executive vice president, worldwide marketing and financial products with Nasdaq. "You'll have to message your counterparty, who will have to accept the trade, just like when Nasdaq was first launched," he adds.
The exchange plans a two-phase deployment with trading in Rule 144A securities occurring on the launch date, followed by support for
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