Series 7: 17.6.2.2. ADF Market Access And Disclosure Rules

Taken from our Series 7 Online Guide

17.6.2.2. ADF Market Access and Disclosure Rules

An Alternative Display Facility (ADF) is a display-only facility for entering quotes and reporting (but not executing) trades. It is used mainly by unlinked ECNs and market makers who trade in Nasdaq and CQS-listed securities off the exchange.

ADF quote and order access requ

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