A new automated brokers system was introduced, based on the fixing price instead of the traditional OTC voice brokers.
After failing to meet the exchange's requirements, trading was moved to the OTC Bulletin Board under the ticker "LENX".
OTC Bulletin Board, a regulated quotation service for stocks that are not listed on one of the major U.S. stock exchanges.
As such, most companies choose to list on more established exchanges such as the AMEX, NYSE, or NASDAQ once eligible.
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Broker-dealers who subscribe to the system, which is not electronic, can use the OTCBB to enter orders for OTC securities that qualify to be quoted.
The OTC Bulletin Board (OTCBB) is a listing of securities that are also traded "over the counter" similar to the OTC Markets.
The Singing Machine Company is a public company listed on the OTC Bulletin Board under the ticker symbol SMDM.
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