Market-Maker Display of Size in Nasdaq Small-Cap Market<sup>SM</sup> Securities
| SUGGESTED ROUTING |
Legal & Compliance |
Executive Summary
Effective February 1, 1993, market makers in Nasdaq Small-Cap MarketSM securities had to display size in their quotations of at least 500 shares, unless the issues are priced at $10 or more and trade less than 1,000 shares per day. Those issues will remain at the 100 share-display requirement. The list of 100-share Small-Cap securities follows this Notice.
Discussion
The Securities and Exchange Commission (SEC) approved an amendment to Schedule D of the NASD By-Laws requiring market makers in Nasdaq Small-Cap Market securities to display size in their quotations equal to the 500share maximum order size in SOES. The amendment became effective February 1, 1993. To preserve market-maker participation and liquidity in more expensive, less-frequently traded Nasdaq Small-Cap issues, however, the NASD has determined that Nasdaq Small-Cap equity securities that have a bid price of $10 or more and an average daily non-block volume of less than 1,000 shares will remain with a 100-share display requirement. In Nasdaq Small-Cap issues that fall under these thresholds, market makers will have to continue posting size of a normal unit of trading. Although the size-display requirement for these issues will be 100 shares, market makers voluntarily participating in SOES should be aware that their tier-level and maximum-order size in SOES will remain at 500 shares. Nasdaq convertible debt securities are also exempt from the new size-display requirements.
The list of those Nasdaq Small-Cap securities with a 100-share display requirement follows this Notice and the NASD will periodically (approximately every six months) review and analyze the trading characteristics of Nasdaq Small-Cap securities, including share price and average volume in the stock, to determine whether to modify the share requirements and will publish a Notice to Members regarding any modifications.
Questions concerning this Notice may be directed to Richard Bush, Nasdaq Operations, at (212) 858-4420.
Nasdaq Small-Cap Issues With Average Non-Block Volume Less Than 1,000 Shares and the Price Greater Than or Equal to $10
|
Symbol |
Company Name |
|
FBCV |
1st Bncp (IN) |
|
AFINP |
Amer Fin Cp Pfd D |
|
AMPLP |
Ampal Am Isrl 6.5 Pfd |
|
ADWC |
Ansonia Derby Water |
|
APOL |
Apollo Sav Loan Co |
|
BONEP |
Banc One Cp Pfd B |
|
EATN |
Bank of East Tenn |
|
BKSC |
Bank of South Carolina |
|
BIRDP |
Bird Cp 1.85 Pfd |
|
CPXLU |
C A P X Cp Uts (Del) |
|
CBTC |
C B T Cp |
|
CSKKY |
C S K Cp ADR |
|
CAMTU |
Car Mart Inc Uts 95 |
|
CAFCP |
Carolina First Pfd |
|
CTRL |
Chemi Trol Chem |
|
CLEA |
Chemical Leaman Inc |
|
CFCP |
Coastal Fin Cp |
|
CCPI |
Comcast Cablevision |
|
CFFC |
Community Fed Sav |
|
BPWRF |
Compania Boliviana |
|
CAIRP |
Conquest Air Pfd A |
|
DAIEY |
Dai Ei Inc ADR |
|
DKBC |
Dakota Bancorp SE |
|
DTUN |
Detroit Canada Tunnel |
|
ESBK |
Elmira Sav Bk FSB |
|
XTONP |
Executone Cv Pfd A |
|
FBANP |
F N B Cp Conv Pfd B |
|
FGNO |
Fair Grounds Cp |
|
FFII |
Falls Financial Inc |
|
FFKT |
Farmers Capital Bank |
|
FNIN |
Financial Inds |
|
FBPC |
First Fin Bkshs Polk |
|
FRCCP |
First Fin Cari Pfd A |
|
FPRY |
First Fin Bncp Inc |
|
FFSX |
First FSB Siouxland |
|
FLIC |
First of Long Island |
|
FUSB |
First United Sav Bk |
|
FCVG |
Firstfed Northern KY |
|
GTELO |
G T E Ca 4.5 Pfd |
|
GTELP |
G T E Ca 56 Pfd |
|
GAMBY |
Gambro A B B ADR |
|
GLDFY |
Gold Field S So Africa |
|
GWOX |
Goodheart Willcox |
|
GCOM |
Gray Comm Sys Inc |
|
GAMI |
Great Amer Mgmt Inv |
|
GYRO |
Gyrodyne Co Amer |
|
TDXC |
Health Mgmt Int'l Inc |
|
HFLM |
Hydro Flame Cp |
|
IICR |
I I C Inds Inc |
|
IMTUC |
Info Mgmt Tech Uts S2 |
|
INVSP |
Investors Sav Pfd |
|
JCFSP |
Jackson Cnty Bk Pfd A |
|
JFFNP |
Jefferson Bk Pfd E |
|
WILLB |
John Wiley Sons Cl B |
|
KIDD |
Kiddie Products Inc |
|
KNBWY |
Kirin Brewery Co ADR |
|
LAUR |
Laurel Bancorp Inc |
|
LARL |
Laurel Savings Assoc |
|
LGASP |
Louisville Pfd 5 |
|
LGASO |
Louisville Pfd 745 |
|
MRNCZ |
Marina Ltd Ptnr Uts |
|
MARPS |
Marine Petroleum SBI |
|
MFCNP |
Metro Fin Pfd B |
|
MFCNU |
Metropolitan Fin Uts |
|
NSFC |
Northern States Fin |
|
NWNGP |
Northwest Nat Gas Pfd |
|
OCENY |
Oce Van Grinten ADR |
|
OLDRP |
Old Republic Cp Pfd E |
|
OMEGU |
Omega Environ Uts |
|
PNCFP |
P N C Fin Cp Pfd A |
|
PANRA |
Panhandle Royal Cl A |
|
PNNW |
Pennichuck Cp |
|
PINN |
Pinnacle Banc Grp Inc |
|
PRFB |
Prime Federal Bank |
|
RBSI |
Regency Bcshs |
|
RLIFA |
Reliable Life Ins Cl A |
|
RSRFP |
Riser Foods A Pfd Inc |
|
SLAB |
Sage Labs Inc |
|
SANYY |
Sanyo Elec Co ADR |
|
SAVB |
Savannah Bncp Inc |
|
STBC |
State Bancorp Inc |
|
SFSW |
State Fin Svcs Cl A |
|
TENB |
Tennessee Nat'l Bank |
|
TNELB |
Thomas Nelson Inc Cl B |
|
TIRZC |
Tidelands Royal Tr B |
|
UPCPN |
Union Planter Pfd C |
|
UCTC |
United Counties Bncp |
|
URIXU |
Uranium Res Uts |
|
VAFD |
Valley Fed Sav Bk Al |
|
VMRXU |
Vimrx Pharm Inc Uts |
|
WACLY |
Wacoal Cp ADR |
|
WASH |
Washington Trust |