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OTCBB Migration to New Platform Effective Today, Monday, August 23, 2004

Summary
  • Open conference call during migration today at 9:00 a.m., Eastern Time (ET)
    • All market makers urged to participate
    • Contingency plan
  • OTCBB migration overview
  • Contact information

Open Conference Call Today, Monday, August 23rd
To ensure a smooth transition, NASDAQ® will host an open conference call during the OTCBB migration from 9:00 a.m. to 10:30 a.m., ET. All OTCBB market makers are urged to participate. The conference call information is as follows:

Conference Leader: Karen Peterson
Dial in: 888.458.4961
Pass code: OTCBB Test

If any issues or questions arise during the migration, please report any problems on this call. In the unlikely event that we have to “fall back” to the old system, quotes from close of business on Friday will be reinstated and there will be a two-hour indicative quoting period to give you an opportunity to update all of your quotes when the system recovers. We will use the open call, system status alerts via email and pop-ups via the NASDAQ Workstation II® to communicate our contingency plans, the indicative quoting period, and when trading will resume in the event of a problem.

Overview of OTCBB Migration
As announced in Head Trader Alert #2004-096 and Head Trader Alert #2004-112, NASDAQ is migrating its OTC Bulletin Board® (OTCBB) Quotation Service to a new internal system platform today, Monday, August 23, 2004. This change will be transparent to NASDAQ Workstation II /application programming interface (API) and computer-to-computer interface (CTCI) users. There are no required system changes for most OTCBB market makers.

In addition to the OTCBB platform change, NASDAQ will be migrating OTCBB quotation information to a new data feed product — the Bulletin Board Dissemination ServiceSM (BBDSSM). As outlined in Vendor Alert #2004-36, BBDS will disseminate real-time market participant quotations and associated inside quotations (when applicable) for OTCBB securities. After a brief parallel period, running from August 23rd to September 3rd, BBDS will replace the existing Level 1 ServiceSM for OTCBB quotation data. This new service does not affect NASDAQ Workstation II Service Delivery Platform or CTCI users. OTCBB quotes will remain static for NASDAQ Workstation II users as they do today.

Contact Information
If you have any questions regarding BBDS or Level 1, please contact:

For all other questions, please contact:

  • Your NASDAQ account manager,
  • NASDAQ Market Sales at 800.846.0477 or sales@nasdaq.com, or
  • Karen Peterson, NASDAQ Transaction Services, at 212.401.8795.




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 largest U.S. 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 companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. Approximately 48% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Trader website at www.NASDAQtrader.com.


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