The U.S. Financial Industry Regulatory Authority (FINRA) is shutting down the OTC Bulletin Board (OTCBB) next month.
In a notice, FINRA said that it will formally close down its inter-dealer over-the-counter quotation system on Nov. 8.
The OTCBB displays quotes and trading data for many equities that are not listed on a national exchange in the U.S., including domestic and foreign stocks, and American depository receipts.
The regulator said that the OTCBB-related rules will also be deleted from its rulebook, and it will stop producing the OTCBB’s data feed.
Earlier this year, the self-regulatory organization announced its intention to shutter the OTCBB and introduce new requirements for OTC trading.
FINRA said that its new rules for OTC equities trading introduce additional requirements for dealers and strengthen oversight of quotation systems for OTC equities.
Among other things, the new rules include disclosure and transparency standards, fair access requirements, and enhanced quote and compliance reporting requirements.