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Sunday, July 22, 2007 5:46:02 PM
This comes from the glossary on pinksheets.com:
Piggy-Back Rule
A "piggyback qualified" security is one that meets the
frequency-of-quotation requirement described in SEC Rule
15c2-11(f)(3). The
frequency-of-quotation test or "piggyback" exception is based on
whether a
broker/dealer has itself published quotations in the security in
the
applicable interdealer quotation system on at least 12 business
days during
the preceding 30 calendar days, with not more than four
consecutive business
days without quotations. Once this criteria has been satisfied,
authorized
participants may register on-line in a security. As long as the
security
remains piggyback qualified, any participant may quote the
security without
a Form 211 submission.
If you have any other questions, please do not hesitate to
contact me.
Regards,
Chris Grant
Pink Sheets, LLC
(212) 896-4420
My picks are my own and many times wrong, generally looking 3-6 months out
'A government big enough to give you everything you want, is big enough to take away everything you have.' ........
Thomas Jefferson
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