George E. Beltz
ABSTRACT
There is a fundamental difference between trading in listed securities and OTC securities that has spurred the need for automation in the OTC industry. Listed securities are, in general, traded only on the floor of an exchange---in essence, a central market place in which a single BID and ASK price are set, and distributed via a ticker and stock quotation systems. OTC securities, on the other hand, are traded in a vast decentralized market place, by thousands of broker dealers scattered nationwide.
Recommendations
The Behavior of Risk and Market Prices of Risk Over the Nasdaq Bubble Period
We exploit the information in the options market to study the variations of return risk and market prices of different sources of risk during the rise and fall of the Nasdaq market. We specify a model that accommodates fluctuations in both risk levels ...
Nasdaq's technology floor: its president takes stock
Over the years, electronics technology has revolutionized virtually every securities market, most notably The NasdaqTM (National Association of Securities Dealers' Automated Quotations) Stock Market Inc. Nasdaq was the world's first market to handle ...
Comments