By Modupe Gbadeyanka
The Bilateral Interdealer Trading System (BITs) earlier introduced by the NASD OTC Market has now been relaunched.
The BITs is proprietary trading system designed to enhance the flexibility and dynamism of the OTC Market.
The system is a fully clouded platform that allows for trades to be conducted and consummated between registered brokers online.
It is also an efficient and scalable trading platform, with high reliability and capacity to accommodate a wide range of structured products that might have difficulty trading on a full stock exchange.
Commenting on the relaunch, CEO of NASD, Mr Bola Ajomale, explained that, “The BITs platform is designed to reflect the NASD OTC Market dynamics, given that most trades are bilateral and in large packets among participating institutions.
“In particular, the platform makes available information on outstanding orders that have not yet been matched – creating additional liquidity and transparency for investors.”
