Delay of Effective Date for .W Modifier for Stop Stock Transactions in OTCBB and OTC Equity Securities
Delay of Effective Date for .W Modifier for Stop Stock Transactions in OTCBB and OTC Equity Securities
In Head Trader Alert #2004-081, NASDAQ® announced that members would be required to begin using the .W modifier to identify Stop Stock Transactions in OTC Bulletin Board (OTCBB) and OTC Equity securities. The original effective date of this requirement was August 23, 2004.
NASDAQ is delaying the effective date of this requirement until NASDAQ systems can be modified to accept the .W modifier for OTCBB and OTC equity securities.
NASDAQ expects these modifications to be complete in December 2004.
NASDAQ will issue an additional Head Trader Alert announcing the new compliance date.
Additional Information
For more information, please contact:
NASDAQ MarketWatch at 800.211.4953 or 301.978.8501.
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs).
NASDAQ is the world’s largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology industries. NASDAQ is the primary market for trading NASDAQ listed stocks. Approximately 51% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQtrader.com.
