April 23, 2014
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NASDAQ to Transfer the Over-the-Counter Bulletin Board to the NASD

Summary
  • The NASDAQ Stock Market will be transferring the OTCBB and the trade reporting of all other Over-the-Counter (OTC) securities to the NASD.
  • NASDAQ will continue to operate the OTCBB in a facilities arrangement only.
  • Accessibility to the OTCBB through all of NASDAQ’s connectivity channels will remain the same.
  • Contact information

Background
The Nasdaq Stock Market, Inc.® announced today that it plans to enter into an agreement in principle to transfer the Over-the-Counter Bulletin Board® (OTCBB) business and the trade reporting of all other Over-the-Counter (OTC) securities to NASD. The transfer is subject to approval from the Securities and Exchange Commission (SEC), the signing of a definitive agreement, and other necessary approvals. This development is designed to facilitate corporate structure changes related to NASDAQ achieving exchange status.

NASDAQ and NASD have structured this transfer of the businesses to be seamless to the customers of the OTCBB and OTC trade reporting businesses. NASDAQ® will continue to provide the technology and connectivity used to carry out the day-to-day functions of the OTCBB and OTC trade reporting while the OTCBB business will be owned, managed and continued to be regulated by the NASD.

The OTCBB will continue to be accessed through the existing channels: the NASDAQ Workstation II® and application programming interface (API) (both available until October 31, 2005), the computer-to-computer interface (CTCI), and through NASDAQ’s new offerings in 2005, QIX, NASDAQ’s proprietary connectivity protocol, and the new NASDAQ Workstation. OTCBB market data will also continue to be offered through the Bulletin Board Dissemination ServiceSM (BBDSSM) and the NASDAQ Trade Data Dissemination ServiceSM (TDDSSM).

NASDAQ will provide more information on the OTCBB transfer as the details are finalized. We look forward to an efficient transition.

Contact Information
Questions may be addressed to:

  • Karen Peterson at 212.401.8795;
  • Stacie Swanstrom at 301.978.8101;
  • Colleen Lampe at 301.978.8258;
  • Email the OTC Bulletin Board; or
  • Karen Sancilio (NASD) at 866.749.7096.




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 3,200 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. For more information about NASDAQ, visit the NASDAQ Trader website at www.NASDAQtrader.com.


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