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Rule 6750 Amended: Minimum Quote Size Requirements
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The Securities and Exchange Commission has granted accelerated approval to Nasdaq's proposal to amend NASD Rule 6750 to provide any Nasdaq officer at the executive vice president level or above with the limited discretionary authority to reduce the minimum quotation size for securities quoted at a price exceeding $200 in the OTC Bulletin Board (OTCBB).
Nasdaq believes that this authority is necessary to correct a previously unforseen problem with the schedule contained in NASD Rule 6750, which presently mandates that securities priced over $200 be traded in units of 50 shares or more. For certain high priced and/or thinly traded securities, this rule has had an undesired and detrimental effect on the transparency and liquidity.
Interested persons are invited to submit written data, views, and argument concerning the foregoing with the SEC. For more information on written submissions, please see Section III of the Order Granting Accelerated Approval.
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