Liquid 144A market created in US

Author: Nicholas Pettifer | Published: 14 Nov 2007

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 Baumann.

"Europe has a...