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6433. Minimum Quotation Size Requirements For OTC Equity Securities

This version is valid from Dec 11 2015 through Jun 9 2016.
Amendments have been announced but are not yet effective. To view other versions open the versions tab on the right.

Every member entering quotations in any inter-dealer quotation system that permits quotation updates on a real-time basis must 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


• • • Supplementary Material: --------------

.01 The amendments set forth in File No. SR-FINRA-2011-058 shall be in effect until June 10, 2016. If the pilot is not extended or approved as permanent by this date, the version of this Rule prior to SR-FINRA-2011-058 shall be in effect.

Amended by SR-FINRA-2015-051 eff. Dec. 11, 2015.
Amended by SR-FINRA-2015-028 eff. Aug. 14, 2015.
Amended by SR-FINRA-2015-010 eff. May 15, 2015.
Amended by SR-FINRA-2015-002 eff. Jan. 29, 2015.
Amended by SR-FINRA-2014-041 eff. Sept. 30, 2014.
Amended by SR-FINRA-2013-049 eff. Nov. 5, 2013.
Amended by SR-FINRA-2011-058 eff. Nov. 12, 2012.
Amended by SR-FINRA-2009-054 eff. Feb. 11, 2011.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Renumbered from Rule 6750 and amended by SR-NASD-2005-087 eff. Aug. 1, 2006.
Amended by SR-NASD-2000-17 eff. September 5, 2000.
Amended by SR-NASD-99-32 eff. September 23, 1999.
Adopted by SR-NASD-93-17 eff. Sept. 8, 1993.

Selected Notices: 93-54, 08-57, 10-42, 12-37, 12-51.

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