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6433. Minimum Quotation Size Requirements For OTC Equity Securities

Past version: effective from Nov 12 2012 - Nov 4 2013.
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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 November 12, 2013. 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-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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