NSCC assesses illiquid charges against pink sheet and bulletin board stocks irrespective of the price. The charge is a reflection of the outstanding sales in relation to 25% of the 20 day average daily volume. These charges can occur any time the unsettled sale/ delivery volume exceeds 25% of the 15 day ADV. Stocks priced below $0.01 are marked to 1¢.
((Quantity x .01) – Trade value) x (number of days until settlement/365) x 10%
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