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Decimal Conversion Update - OTCBB Quotation Spin Processing
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Effective Monday, April 9, 2001, The OTC Bulletin Board® (OTCBB) will only support quotation and trading in decimal prices. Currently, OTCBB Market Makers are allowed to quote and trade in either fractional or decimal prices.
In preparation for this price change, all OTCBB quotations in the securities to be converted, whether in fractions or decimals, will be wiped out over the course of the upcoming weekend. As noted in Vendor Alert #2001-18, Nasdaq will send out zero quotations for all OTCBB issues via the Level 1 ServiceSM at approximately 6:40 p.m., Eastern Time (ET), on Friday, April 6, 2001. On this website, OTCBB quotations will be cleared on Monday, April 9, 2001, at approximately 6:30 a.m., ET. As a result, investors and traders may not be able to access OTCBB quotation information from market data vendors, but should be able to do so on the OTCBB website this weekend. OTCBB Market Makers should re-enter quotation prices in decimal price format on Monday beginning at 6:30 a.m., ET. OTCBB trade data from Friday will not be affected by this conversion.
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