Tuesday, February 16, 2016
Equity Trader Alert #2016 - 30
Nasdaq to Launch Small Cap Market Quality Pilots
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Markets Impacted:Contact Information:
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Small Cap Incentive Pilot (“SCIP”)Effective Friday, April 1, 2016, and pending filing with the SEC, Nasdaq will introduce a Small Cap Incentive Pilot for Nasdaq Market Makers registered in Nasdaq-listed symbols with a market cap less than $100 million. Details include:
The eligible symbols and liquidity codes will be announced on March 1, 2016. Eligible securities must have a market cap of less than $100 million (the “Threshold”) as of February 29, 2016. The Exchange will add or remove symbols based on the Threshold every six months and announce any changes via an Equity Trader Alert. The Exchange may also adjust the Threshold periodically via a rule filing based on the results of the SCIP. |
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