Meet Gene, a NASDAQ Market Maker Message Board

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Non-Tech : Meet Gene, a NASDAQ Market Maker

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To: DizzyG who wrote (11)	7/25/2000 10:44:28 PM
From: gene_the_mm	Read Replies (2) of 1426

ABOUT OTCBB QUOTE SERVICE... Diz, OTCBB issues do not trade 'dynamically'. Thus, in order for MM's to watch OTCBB stocks on the standard NASDAQ equipment he needs to continually 'refresh' his monitor screen (I am not sure why this is the case but I believe that it has something to do with the fact that OTC BB not being firm quotes until you actually have that firm on the phone and the quoted price is still there). However, to answer your question there still is Level 1, 2 and 3 service because this information is still quoted similar to NMS and small caps except that the way that MM's need to refresh their screens to update the quotes (However, I understand that firms that specialize in OTC BB stocks have special systems that update all this info dynamically). All order for OTC BB are handled over the phone or placed into an ECN. However, ECN's are not quoted in the OTC BB so PUBLIC orders are almost always routed via phone calls to MM's (ECN's would be used by MM's and institutions). I hope that helps Diz... All the best, - Gene

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