posted
From: OTCBB.com I'm sire most know this, but I thought I'd throw it on anyway. Hey Jmoove - Do you think this will help eliminate the "ghost share" selling, and shorts? I'm to new in this to make sense of that end of the business. Thanks!! Red
NASDAQ Transfers OTCBB to the NASD
Summary
The Securities and Exchange Commission (SEC) has approved the transfer of the OTCBB/OTC business to the NASD. The transfer will be effective October 1, 2005. Contact information What is changing and how will it affect customers? As announced in July 2005 in Head Trader Alert #2005-083, in preparation for Exchange Registration, NASDAQ® is planning to transfer the OTCBB/OTC business to the NASD. The SEC has now approved the transfer and it will be effective October 1, 2005.
NASDAQ and NASD have structured this transfer of the businesses to be seamless to the customers of the OTCBB and OTC trade reporting businesses. NASDAQ will continue to provide the technology and connectivity used to carry out the day-to-day functions of the OTCBB and OTC trade reporting while the OTCBB business and OTC trade reporting business will be owned, managed and regulated by the NASD.
Will there be any changes to the way I trade OTCBB securities? The OTCBB will continue to be accessed through the existing channels: the NASDAQ Workstation II® (available until November 30, 2005) and application programming interface (API) (available until December 31, 2005), the computer-to-computer interface (CTCI), and through NASDAQ’s new offerings in 2005, QIX, NASDAQ’s proprietary connectivity protocol, and the new NASDAQ Workstation. OTCBB market data will also continue to be offered through the Bulletin Board Dissemination ServiceSM (BBDSSM) and the NASDAQ Trade Data Dissemination ServiceSM (TDDSSM).
How will billing change? Effective with the October activity bill, generated in early November, market participants who quote and/or trade report in OTCBB/OTC securities will receive a separate bill from the NASD for that activity. No other OTCBB-related billing will change (i.e. data feeds).
Where can I go for more information? Questions regarding the OTCBB transfer may be addressed to:
Karen Peterson at 212.401.8795; Colleen Lampe at 301.978.8258, or, otcbbfeedback*nasdaq.com; NASD, Karen Sancilio on 866.749.7096; NASD, Patricia Casimates on 866-776-0800. For more information on the retirement of the NWII or the API, please refer to Head Trader Alert #2005-105.
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs). NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ Trader website at www.NASDAQTrader.com.
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-------------------- I'm not going to comment further, as I refuse to get into a battle of wits with an unarmed person....
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Thank you for your email. As soon as our operations department receives the new shares from the company, your account will be updated. Most likely it will be Monday however sometimes these situations take about 3-5 business days. Everything will change to CWFG. Please feel free to email with further questions.
quote:Originally posted by Lu01eg: My response from Scottrade Dear Customer, Thank you for your email. As soon as our operations department receives the new shares from the company, your account will be updated. Most likely it will be Monday however sometimes these situations take about 3-5 business days. Everything will change to CWFG. Please feel free to email with further questions. Scottrade Inc.
thanks for good info luoleg--- key phrases: "as soon as", "most likely", "however... 3-5 business DAYS" all i'm saying is "foreknowledge prevents panic" and folks should know that it commonly takes AT LEAST 3 trading days- i once had to wait 2 weeks on one of these. hadda call my broker every time i wanted to adjust my sell order. drove me NUTS!!!
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For those who use eTrade, here is their response on how the symbol change will work. They did not mention a fee, so I will have to find out this week, if they actually charge for it:
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Thank you for your email concerning a stock split in your account. I do have the security CWMF Commonwealth American Financial Group that will undergo a symbol change, effective date 10/03/05, to symbol CWFG. This change is also a split ratio of 3-2. These changes will happen for you automatically once E*TRADE receives the new shares from the transfer agents which is typically on the ex-date, 10/03/05 in this case. You will not be able to trade the new symbol until the shares have been delivered.
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posted
Red, NASD will provide a little more oversight, but nothing noticeable, imho
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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News for 'CWMF' - (Commonwealth American Financial Group Announces New Symbol Change and Purchase of Residential Mortgages)
ST. PETERSBURG, Fla., Oct 03, 2005 (BUSINESS WIRE) -- Commonwealth American Financial Group, Inc. (PINK SHEETS: CWMF) announces that the company has received notification from the NASDAQ that the new symbol for Commonwealth American Financial Group is CWFG. The new symbol will become effective 10/3/2005 as of the commencement of trading. Commonwealth American Financial Group has also successfully negotiated to purchase a package of residential mortgage loans from Miami, Fla. The mortgages are short term and yield a 15% return to Commonwealth American Financial Group.
The mission of Commonwealth American Financial Group, Inc. is to invest in land development projects either as developer, joint venture partner, or lender and create mezzanine financing opportunities. The company will also grow by acquiring subsidiaries in related fields such as construction, real estate brokerage-appraisal-management, in the states of Florida, Texas and Louisiana.
Mr. Guthrie, President, said, "As well as investing in the Hurricane affected areas in Texas and Louisiana, we must still capitalize on the returns that can be made in the flourishing Florida real estate market that still exists."
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So finally a little income then? lol This lotto ticket better pay off! heres to a good day all around!
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
not all mms have updated yet, i have etrade and i still show cwmf, it might take till tomorrow
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
IP: Logged |
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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Anybody know how to put in for a limit bid on etrade right now, mine hasnt updated the shares or the change in ticker, do you have to call them?
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on the phone with etrade right now to find out why they arent out to play with the other big boys
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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skinny from etrade, "you have the shares your account just wont see them for 2 days, but if you want to place a trade go through a broker directly AT NO CHARGE, 1-888-388-2900, have your account number handy, take about 4 mins to complete the transaction
i figured that this would be the case, but just to confirm for all of us
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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posted
same thing, im 90% sure, just call them to get the direct access broker number, i think its listed on the website also, you may have to dig
-------------------- Choosing individual stocks without any idea of what you're looking for (or without reliable information) is like running through a dynamite factory with a burning match. You may live, but your still an idiot.
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I read some of the posts in here and I am surprised. They come out with news about money coming in and the stock has split so the MMS are going to start having trouble. Now everyone trying to get out fast. Hang in there everyone. There is going to be more good news on the way. I think it is early to be jumping off the ship. I don't not want to sway anyone either way, do what you will but it looks like Guthrie is trying to make a real impression on the investors. I think our calls and emails have put his feet to the fire. I hope you all the best whatever you decide.
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hadda call my broker every time i wanted to adjust my sell order. drove me NUTS!!!
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