OTCBB Glossary - M

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Market Makers

FINRA Rule 6420(f) (Definitions) provides that an "OTC Market Maker" is a member of FINRA that holds itself out as a market maker by entering proprietary quotations or indications of interest for a particular OTC Equity Security in any inter-dealer quotation system, including any system that the SEC has qualified pursuant to Section 17B of the Exchange Act.  A member is an OTC Market Maker only in those OTC Equity Securities in which it displays market making interest via an inter-dealer quotation system.

Market Order

A Market Order is an unpriced order to buy or sell a security at the current market price of the security.

Minimum Quote Size Requirements

FINRA Rule 6433 (Minimum Quotation Size Requirements For OTC Equity Securities) sets forth the minimum sizes at which an OTC Market Maker is permitted to display quotations on an interdealer quotation system. The required minimum quotation size varies depending on the price of the stock.