How do trading halts work on OTC Link® ATS? Only
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Posted On: 04/30/2018 12:08:11 PM
How do trading halts work on OTC Link® ATS?
Only FINRA or the SEC can halt trading in OTCQX, OTCQB and Pink securities. Unlike exchange-listed securities, OTC traded securities are not halted for the dissemination of company news, except in the case of non-U.S. securities, which may be halted for news in conjunction with a halt on the home-country exchange.
What happens when the SEC suspends trading or FINRA halts trading in a security?
When a security is suspended or halted, OTC Markets Group removes all quotes from the system and displays a 'Halted/Suspended' message.
SEC suspensions for OTCQX, OTCQB and Pink securities have a duration of 10 business days. After the suspension ends, broker-dealers may re-enter their quotes if they comply with Rule 15c2-11. This rule requires the filing, with FINRA, of a new Form 211 which must include the company's current financial information.
Only FINRA or the SEC can halt trading in OTCQX, OTCQB and Pink securities. Unlike exchange-listed securities, OTC traded securities are not halted for the dissemination of company news, except in the case of non-U.S. securities, which may be halted for news in conjunction with a halt on the home-country exchange.
What happens when the SEC suspends trading or FINRA halts trading in a security?
When a security is suspended or halted, OTC Markets Group removes all quotes from the system and displays a 'Halted/Suspended' message.
SEC suspensions for OTCQX, OTCQB and Pink securities have a duration of 10 business days. After the suspension ends, broker-dealers may re-enter their quotes if they comply with Rule 15c2-11. This rule requires the filing, with FINRA, of a new Form 211 which must include the company's current financial information.
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