FINRA Delists More Than 1,000 Securities from OTCBB

March 6, 2011 - PRLog -- The mass expulsion was because the companies no longer had a market maker. The Financial Industry Regulatory Authority (FINRA), which runs the Bulletin Board, calls for any company without at least one market maker to be delisted after four days.

Investment bank Rodman & Renshaw agreed to acquire the OTCBB from FINRA last year. The sale is expected to be completed this quarter.

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FINRA and Rodman declined to comment.

While it is unclear exactly what happened, one possible explanation is that one or more large market makers decided to no longer use the OTCBB.

The quotation system OTC Markets reports that during the last 30 days, it has seen 837 new securities go from being listed on both the OTCBB and OTC Markets to only being listed on the OTC Link inter-dealer quotation and trade messaging system.

Since 2008, OTCBB has seen a gradual migration away from its platform to the point where OTC Markets is now listing 94% of priced quotes in all over-the-counter securities.

Source: OTCBB Website

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