The Microcap Kitchen: Stocks 5¢ to $5 Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : The Microcap Kitchen: Stocks 5¢ to $5

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: GARY P GROBBEL who wrote (71092)	1/30/2008 3:33:23 PM
From: rogerover	Read Replies (1) of 120415

"elm...things on the otc bb with mm's are not like Nasdaq. They don't HAVE to buy anything...even if they are posting a bid and size." Just to expand on rrufff's reply... MMs can be, and are, fined for failing to honor posted bids and asks. I think it's something like $10,000 per violation, and the various newsletters that cover the SEC regularly carry blurbs that name names of the firms that are fined. If there's a bid for 2500 at a given price on the OTCBB and you put in an order to sell 2500 or fewer shares at that price or lower, they MUST honor it. No buts. Occasionally they may say "you're too late, we just filled someone else in front of you and didn't have time to update our quote," but that's another story. They are required to update their bid within "x" seconds, I forget how many. On the OTCBB, if you put in an order to sell 8150 at that price, they can fill 2500 and then drop their bid. If you put in an all-or-none order, they don't have to do anything.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next