We've been following the rise of trading platforms for unregistered securities and have become convinced that this will rival the ECN market in terms of significance. How else to explain the many new entrants. The latest, according to Financial News Online, appears to be Restricted Stock Partners, a unit of Glenn Drake Capital, which has been funded by Pequot Capital among others. It just launched an electronic version of its Restricted Trading Securities Platform. This will compete with the likes of Portal, GSTrUE, Opus-5, Best Markets and FBR Plus. At some point, we would expect some consolidation. But right now, it's all about building market share, as the 144A market continues to grow. It will be interesting to watch.  

For more:
- here's the Financial News Online article

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