Terminal Replaces Phone In New NASDAQ OCT System


With NASDAQ's new Order Confirmation Transaction system, over-the- counter securities traders no longer need to worry about market makers not answering their telephones.

Launched earlier this month, OCT allows NASD members to electronically initiate and execute orders of up to 100,000 shares for both their own and customer accounts.

NASDAQ's existing small order execution system is limited to customer orders of 1,000 shares or less in NASDAQ National Market System issues and 500 shares or less

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