At the risk of showing my ignorance: It was my impression that 1) market makers were currently out of the loop and 2) brokers are matching trades within their own customer groups and reporting those trades to their regulators as described under Grey Market here: http://www.pinksheets.com/pink/otcguide/investors_market_tiers.jsp
And that it is the above process that accounts for the lack of volume.
If I'm mistaken I hope that someone will take a minute to straighten me out.
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