OTC Bulletin Board^® (OTCBB) Market Makers will be billed based on their number of positions during a month. A position is defined as any quotation that is priced or unpriced, firm or non-firm, one-sided or two-sided, or any indication of interest entered by a Market Maker in an OTCBB security.

The monthly Market Maker fee for participation in the OTCBB Bulletin Board Service is:

• $6.00 per position

Participation Fees

Standard Fees

Cancel / Correct Fee	$.25
Comparison / Accept per 100 share block (400 share minimum to 7,500 share maximum block)	$.0144
T + 1 / T + N entry (per entry)	$.288

Locked-in Trade Reports in OTCBB and OTC Securities

Internalized (per trade)	$.029
Automated Give Up (AGU) (per side)	$.029
Qualified Special Representative (QSR) (per side)	$.029

FINRA’s technology service provider for quote and trade reporting is NASDAQ. The following NASDAQ charges are common for OTC Equities and NASDAQ services.

• Weblink ACT 2.0
• NASDAQ Workstation
• FIX Connectivity
• Computer-to-Computer (CTCI) Connectivity
• NASDAQ Testing Facility
• Secure Data on NASDAQ Trader

Issuers

There are no fees for companies to be quoted on the OTCBB. NASD^® rule 2460 explicitly prohibits any payment by issuers or their affiliates and promoters, directly or indirectly, to Market Makers for publishing quotations.

All fees are subject to change at the discretion of The Nasdaq Stock Market^SM.