September 20, 2014
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Proposed Rule Change Relating to Minimum Quotation Sizes on the OTCBB

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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