Posted On: 11/07/2013 1:48:44 PM
Post# of 94164
$REAC MENTIONED >>FINRA halts trading in all OTC equity securities
NEW YORK | Thu Nov 7, 2013 12:59pm EST
NEW YORK (Reuters) - The Financial Industry Regulatory Authority halted trading in more than 10,000 over the counter "penny stocks" on Thursday, the OTC Bulletin Board said.
The halt began at 11:25 a.m. EST (1625 GMT) and was due to a connectivity issue, said an OTC Markets Group spokeswoman.
Investors cannot trade those securities through the market, bilaterally or on any other market.
Trading in Nasdaq- and New York Stock exchange-listed securities is not affected.
"FINRA has determined that halting quoting and trading in all OTC Equity Securities is appropriate to protect investors and ensure a fair and orderly marketplace," OTC said on its web site.
Many of the securities on the over-the-counter market are illiquid, trading infrequently and mostly under $1. In Wednesday's trading, just six securities including Alternative Energy Partners, Fannie Mae and Real Estate Contacts Inc traded more than 10 million shares.
FINRA declined to comment.
(Reporting by Rodrigo Campos and John McCrank; Editing by Chizu Nomiyama)
NEW YORK | Thu Nov 7, 2013 12:59pm EST
NEW YORK (Reuters) - The Financial Industry Regulatory Authority halted trading in more than 10,000 over the counter "penny stocks" on Thursday, the OTC Bulletin Board said.
The halt began at 11:25 a.m. EST (1625 GMT) and was due to a connectivity issue, said an OTC Markets Group spokeswoman.
Investors cannot trade those securities through the market, bilaterally or on any other market.
Trading in Nasdaq- and New York Stock exchange-listed securities is not affected.
"FINRA has determined that halting quoting and trading in all OTC Equity Securities is appropriate to protect investors and ensure a fair and orderly marketplace," OTC said on its web site.
Many of the securities on the over-the-counter market are illiquid, trading infrequently and mostly under $1. In Wednesday's trading, just six securities including Alternative Energy Partners, Fannie Mae and Real Estate Contacts Inc traded more than 10 million shares.
FINRA declined to comment.
(Reporting by Rodrigo Campos and John McCrank; Editing by Chizu Nomiyama)
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