SEC approves NASD rules for market makers

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The NASD OTC Plc says the Securities and Exchange Commission has approved its rules for market makers in its over-the-counter market.

Market makers are also known as liquidity providers and they contribute towards better price discovery and a market reaching equilibrium, according to the company.

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In a notice announcing the approval, NASD Plc said three of its participating institutions had indicated interest in registering as market makers on the NASD OTC market.

NASD Plc had in November last year said there were ongoing talks about the likely impact market makers would have on the over-the-counter market, expressing support for the talks.

“Currently discussions are growing in the OTC market on if market makers assist (or impede) in creating liquidity-transparently on the OTC market” it had said.

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