Alternative display facility
Alternative display facility (ADF) is an equity trading facility created in the United States by the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization (SRO). The ADF is an alternative to the exchange for publishing quotations and for comparing and reporting trades. This differs from a trading facility with execution capabilities (stock exchange) in that the exchange would simply send back to the owner of the displayed order a notice of execution. FINRA has operated an ADF since July 29, 2002.[1][2]
References
This article is issued from Wikipedia - version of the 1/31/2011. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.