Monday's announcement that 12 Wall Street firms are to use
Nasdaq's Portal system as a trading system for Rule 144A
securities has fostered hope of a liquid institutional market
in the US.
"Right now, if you are a QIB (qualified institutional buyer,
with at least $100 million in assets) you have nowhere you can
go to get rid of your securities. Nasdaq's Portal is going to
aim to provide that," said Dorsey & Whitney partner Richard
"Europe has a...