Timber Hill linked for role as Nasdaq market-maker

US-based brokerage Timber Hill Hong Kong is expected to act as a market-maker for Nasdaq shares listed in Hong Kong.

The stock exchange had approached several brokers to gauge their interest in participating in the proposed market-maker system, an exchange spokesman said yesterday.

'One of them has shown interest in taking the job,' the spokesman said.

The spokesman did not identify the firm but Timber Hill confirmed it had expressed interest.

'We trade these [Nasdaq] stocks actively in America, and we could do the same here to help create liquidity,' said David Friedland, managing director of Timber Hill Hong Kong.

The Timber Hill Group was one of the global leaders in market-making, Mr Friedland said.