Elite Pharmaceuticals Inc (ELTP)

[ARbigguy1]

The MM that showed up on ELITES trades GTSM is GTS. GTS is a leading global electronic market maker, powered by combining market expertise with innovative, proprietary technology.

GTS is one of the top MMs on NYSE so why is this BIG player working their high speed trading on ELTP???

Cut from something I found for GTS and OTC trading.....

That's starting to change thanks to efforts by some of Wall Streets most sophisticated players applying technology to the outdated market. Citadel Securities, Virtu Financial, Jane Street, and GTS ranked in the top five in ADR trading for notional amount and number of trades in July on OTC Markets' alternative trading system. G1 Execution Services, a subsidiary of Susquehanna, fell just outside the top five for both categories.

There is no doubt about the opportunity in the market. ADRs pricing spreads can often be much wider than listed stocks as brokers account for the risk that comes with conducting the labor-intensive trades. As a result, some investors choose to steer clear of ADRs entirely, or trade sparingly, despite interest in the companies.

GTS is one of the more recent entrants into the space, following its acquisition of Cantor Fitzgerald's wholesale market-making business in November 2018. Joe Pleffner, a principal in GTS' wholesale market-making business who came over as part of the Cantor deal, stressed that while trading ADRs has greatly evolved over the years, it's still not a pure speed game, as is commonly the case for listed equities.

Technology and humans are equally important to GTS' growth in the space, he added.
"Just because I am really fast in OTC markets doesn't mean I am really efficient in giving my customers the best price," Pleffner told Business Insider. "In some instances, especially OTC securities and even small caps, speed is not really beneficial to the investor. It is really where can I add more liquidity. Where can I give the best price to my clients. A lot of times the lack of speed kind of helps."