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Proposed Rule Change Relating to Minimum Quotation Sizes on the OTCBB
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Nasdaq is proposing to modify the minimum quotation size for securities quoted on the OTCBB that exceed a
price of $200 per share. Nasdaq believes that this modification is necessary to correct a previously unforeseen problem
with the schedule contained in NASD Rule 6750, which presently mandates that securities priced over $200 per share be traded in blocks of 50 shares or more. For certain highly priced and/or thinly traded securities, this rule has had an undesired and detrimental effect on
transparency and liquidity.
Below are the proposed changes to the minimum quote sizes for securities priced over $200 per share:
| Price (Bid or Offer) |
Minimum Quote Size |
| 200.01 - 500 |
25 |
| 500.01 - 1000 |
10 |
| 1000.01 - 2500 |
5 |
| 2500.01+ |
1 |
For further details regarding the proposed changes, see SEC Release No. 34-42852 as it was published in the Federal Register on June 7, 2000.
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