Penson getting better and better!!!
Dear Client
As a reminder, as of October 1, 2011, all orders in OTCBB and Pink Sheet securities submitted through a Penson gateway, where the order quantity is greater than 10% of the 20-day average daily volume of that security, reject back to the client.
Effective tomorrow, July 31, 2012, this check will be done for all orders in OTCBB and Pink Sheet securities submitted through a Penson gateway, regardless of trade price.
Where applicable, the following reject message will display when an illiquid charge is generated:
“Rejected: Order violates PFSI illiquid security policy.”
-Matt
