Series 24: OTC Quotation Reporting Requirements

Taken from our Series 24 Online Guide

OTC Quotation Reporting Requirements

OTC market makers must record specified information about each quotation or indication of interest they make that is not displayed on an inter-dealer quotation system. According to FINRA Rule 6431, the information that must be recorded includes:

1. Submitting firm
2. Inter-dealer quotation system or medium
3. Trade date
4. Time quotation displayed (expressed in hours, minutes, and seconds)
5. Security name and symbol
6. Bid and bid quotation size (if applicable)
7. Offer and offer quotation size (if applicable)
8. Prevailing Inside Bid
9. Prevailing Inside Offer

However, Prevailing Inside Bid and Prevailing Inside Offer (the current best bid and offer) are not recorded if no updates were entered to the OTC market maker’s quotation or quotatio

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