VERT, BKRT, and VFIN sell retail and for institutions. I know that one of my bank brokerage accounts executes my orders through different MMs. This is common in the OTC market. Even my ING sharebuilder account executes orders through different MMs in the OTC market.
The T/A for that stock is the one that executes the conversion for that bond. If you call or email them they should give you a real-time SS. Do they? Well, that is subjectional. Do they need to add conversions to the O/S immediately or do they not have to add them until all sells are executed? Anythings possible. I don't know what the SEC requirements are. I know that the OTC market is very volatile and this is where daytraders prey.
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