Posted On: 05/28/2013 8:10:36 PM
Post# of 7153
Re: gramps1942 #971
I wonder if OTC will actually enforce the rules some day! "Manipulative" 100 share trades, PPS up or down, at this current PPS level, I think violates the .50 rule below?
6433. Minimum Quotation Size Requirements For OTC Equity Securities
Every member entering quotations in any inter-dealer quotation system that permits quotation updates on a real-time basismust enter and honor those quotations for at least the minimum size defined in the table below. In this regard, it is the member's responsibility to determine the minimum size requirement applicable to its quotation . Depending on the price level of the quotation , a different minimum size can apply to each side of the market being quoted by the member in a given security.
| Price (Bid or Offer) | Minimum Quote Size |
| 0.0001–0.0999 | 10,000 |
| 0.10-0.1999 | 5,000 |
| 0.20–0.5099 | 2,500 |
| 0.51–0.9999 | 1,000 |
| 1.00–174.99 | 100 |
| 175.00+ | 1 |
Minimum Quotation Size Requirements for OTC Equity Securities (FINRA Rule 6433) – FINRA members acting as market makers by submitting quotations into an inter-dealer quotation system must adhere to the minimum size requirements set by FINRA. For example, all quotations with a price less than or equal to $.50 must have a minimum size of 5,000 shares. See complete text of Rule 6433 and view complete price-size table .
http://www.otcmarkets.com/investors/regulation#rule8
2020. Use of Manipulative, Deceptive or Other Fraudulent Devices
No member shall effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.
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