Flash! OTCBB Sale Close
By David Feldman at 30 June, 2010, 10:26 am
There have been rumors for quite awhile, but never anything resembling official confirmation. FINRA, which owns the OTC Bulletin Board, had announced that it desires to sell it (or possibly shut it down). Now it has been confirmed here at the Reverse Merger Conference: FINRA is very close to selling the OTCBB and it could be imminent. We do not know who the buyer is, but some thoughts come to mind – the NYSE? The OTC Pink Sheets? A big market maker like Knight Securities? We have no clue. But what we hear is, that we will hear very soon. This will obviously have an impact on the 5,000 plus companies whose securities are traded on the OTCBB, could create very interesting opportunities for the OTC Markets (formerly the Pink Sheets) and could very well materially alter the landscape for small and microcap stocks for years to come.
As I always say, stay tuned. A much more comprehensive review of the RM conference in the days ahead.
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