Effective November 5, 2012, FINRA will implement a pilot program modifying the standards for minimum quotation sizes for OTC equity securities. During this program, the minimum quote sizes will be as follows:
| Price (Bid or Offer) | Minimum Quote Size (# of shares) |
| $0.0001 to $0.0999 | 10,000 |
| $0.10 to $0.1999 | 5,000 |
| $0.20 to $0.5099 | 2,500 |
| $0.51 to $0.9999 | 1,000 |
| $1.00 to $174.99 | 100 |
| $175.00+ | 1 |
The rule will also be extended to apply to all quotes and orders displayed in an inter-dealer quotation system, including quotes displayed by alternative trading systems and quotes reflecting customer orders. The program will last until October 31, 2013, unless rescinded, extended, or made permanent.
Source: FINRA Regulatory Notice 12-37
This alert applies to the Series 55, Series 62, Series 24, and Series 7.