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Migration of OTCBB System to New Platform; Replacement of Level 1 Service for OTCBB on August 23, 2004

Summary
  • Migration to new OTCBB platform on August 23, 2004
  • Level 1 service for OTCBB to be replaced by new data feed, scheduled for August 23, 2004
  • User Acceptance Tests - July 31, August 7, and August 14, 2004
  • NASDAQ Testing Facility available beginning on Monday, July 26, 2004
  • Contact information

Overview
In an effort to streamline our systems, NASDAQ® is migrating its OTC Bulletin Board® (OTCBB) Quotation Service to a new internal system platform. This change will be transparent to users. Also effective August 23, 2004, as announced in Vendor Alert #2004-36, NASDAQ is introducing the new Bulletin Board Dissemination ServiceSM (BBDSSM). BBDS will disseminate real-time market participant quotations and associated inside quotation (when applicable) for OTCBB securities. After a brief parallel period, BBDS will replace the existing Level 1 ServiceSM for OTCBB quotation data.

User Acceptance Testing
There are no required system changes for market makers; however, to ensure a seamless transition, NASDAQ urges market makers participate in one or more of the weekend user tests. The weekend user tests are scheduled as follows:

Test Scheduled Dates
User Acceptance Test #1 Saturday, July 31, 2004
User Acceptance Test #2 Saturday, August 7, 2004
User Acceptance Test #3 Saturday, August 14, 2004

In order to participate, firms must register by 12:00 p.m., Eastern Time (ET), on the Thursday prior to the weekend test.

To register for any or all above the user tests, go to the secure online registration system. Before you can use the online registration area, you will need to obtain a user ID/password and download a digital certificate. Information on how to sign up for the online registration service can be found at the How to Subscribe page by clicking on “Testing Registration.” Firms that cannot use the online registration site may still register by faxing a completed registration form, available on NASDAQtrader.com to 203.385.6567, e-mailing your information to OpsQa@nasdaq.com, or contacting the Testing Center at 800.288.3783.

Additional Testing Available in the NASDAQ Test Facility
All OTC functionality will be available for testing in the NASDAQ Test Facility beginning on Monday, July 26, 2004. BBDS testing will be free of charge.

Contact Information
If you have any questions regarding the Saturday user acceptance tests, please contact:

  • NASDAQ Testing Center at 800.288.3783
If you have any questions regarding BBDS, please contact: For all other questions, please contact:




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.


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