Home

OTC DEALER, version 4.0 PINK LINK USER MANUAL

1. bp obogate comina pray nwesihistoryserver porta ponishastoryserverkes Ge E Back bo Orge The Security Quotes tab allows you to search for security activity Specify the security and day whether you want to see market maker quote updates insides or both and click GO or click Excel to export result to Excel spreadsheet J History Server Search Mozilla Firefox Fie Edt View Go Boolomurks Took Hep gt 9306 Geting Started LA Q5 Admin Li 64 ht iwww obeguole cominerbal_prooy nevtatorerreripon Do LL MOS Users itr v30 C Apple d kong io PENNE LueciD RADIA A Arna Tari Tamias Phncal s S333933 1393 n a Pam a chive dala is sehe pisara isi od Securit Quote Histor T Cabe dde quote El from DUDO To D0609 2006 inside El ao EXCEL Fiat Day of Ackhaty Lat Dep of Actprity To get Security Ouche Miko pleas eie pimba Secunty ID or CLUP for a paola ect dale kr whch you warm 16 oe la ges quotes or ride orc bath T Dais Ber pepa rines o ponam ee Eu piani mi ir a Pion rs nacio TPS ari EE Copyright 2005 Pink Sheets LLC Legal Notification Privacy Statement Contacting Pink Sheets lf Gettng Started LA Latest Headines _ EQS Admn 64 History Sarvar 5aarch Morilla Firefox Fe Edi View Go Booloraria Too amp Hep oe DO FN Go tapete cominewhaz proxy newhatorysereepon Ga MOS Users isting v3 0 C Appie bindi io PEME Loner Ds YEARS A aca Tai Tamias
2. 0 115 0 138 5000 x 5000 The Ticker window shows market maker quote movement inside quote changes and trades for securities set up for the appropriate Ticker or in the case of My Ticker any security that you are quoting By right clicking on a ticker you specify what information to show on the ticker Check Show Inside Quotes to show the inside quotes Show MM m show MM Quotes Quotes to show any quote update and Show Trades to show trade m show Trades information You can also set the direction of the Ticker and alter the font i Left to right SIZC O Right to left Inside Quotes are identified by a green symbol followed by the current Top to bottom inside quote The color of the bid and ask indicates where the price is O Bottom to top green indicates it is on the Pink Sheets id CONES E T E Decrease Font Size cyan blue indicates it is on the OTCBB and that the market maker with best bid or offer can be Pink Linked purple indicates it is on the OTCBB but the market maker cannot be Pink Linked Market Maker quotes are identified by a yellow symbol followed by the market maker ID The color of the quote is identical to the inside quote above Trades are shown in white text with a green up tick or red down tick symbol The trade text reads security traded number of shares at a price 09 12 06 16 Version 4 0 OTC Dealer 4 0 User Guide 2 8 Auto quoting with Excel for ADR Foreign Ordinary 8 Convertable
3. The caption BIEEXLEU AS ris of this button will depend on the incoming D You are attempting to execute more shares than there are available order e g an incoming sell order will show Peyeuwantto proceed the Buy button while an incoming buy order will show the Sell button OTC Dealer will attempt to execute one or more orders to get the number of shares you requested If you specify fewer shares than are available you might get partial executions If you specify more shares than are available you ll get a warning before proceeding The Buy amp A way and Sell amp A way buttons act the same as the Buy and Sell button but in addition will move your quote down the montage after executing Only one side of the quote will change the side on which the order was based To decline the single order shown in the focus area click the Dcl Ord button Del All button declines all incoming orders for the security at the same price The Counter button brings up the Counter Dialog It is similar to the order entry dialog except that some parameters cannot be changed For example if the incoming order was an order to sell from the senders point of view your counter order will be an order to buy and vice versa Also the recipient cannot be changed it is always the sender of the previous order All other 09 12 06 20 Version 4 0 OTC Dealer 4 0 User Guide parameters can be changed If you ent
4. depends on the system s setup Please consult your technical department if you are using such systems The first time OTC Dealer is launched it Dealer Connection Setup opens up the Connection Setup dialog This dialog can also be opened at any time by selecting the Setup Connection Setup command Depending on your connection to the Pink Sheets you must specify whether you wish to use Internet Radianz or whatever other options are available in the dialog If you have two connections for example a Radianz connection and Internet you can specify both one as primary and the other as secondary To set a secondary connection you must first enable it by checking the Secondary Network checkbox If your connection has a Proxy associated with it 0 specify that by selecting Use Proxy under the MISS SAGE ox appropriate Primary or Secondary connection and then specify the Proxy URL without the http in front and the port Finally test 1f the connection is working by clicking the Test Connection button To save the Connection Settings click the Save button If your connection is set up the log in window will appear Type in your market maker ID for example pink or PINK in the top line your User ID for example trader a or TRADER_A in the second line and finally your password in the third 09 12 06 1 Version 4 0 1 2 OTC Dealer 4 0 User Guide line Note password
5. 1999 1 0 2 8 4 1999 1 0 la 7 28 1999 1 0 1 7 26 1999 1 0 09 12 06 OTC Dealer 4 0 User Guide User guide updated for release 4 0 of the OTC Dealer User guide updated for release 3 1 of the OTC Dealer User guide updated for release 3 0 of the OTC Dealer User guide updated for release 2 4 of the OTC Dealer User guide updated for release 2 2 of the OTC Dealer User guide updated for release 1 4 of the OTC Dealer Version not released User guide updated for release 1 2 of the OTC Dealer User guide updated for release 1 1 2 of the OTC Dealer Version not released Added Beep on new message option to the Alerts window Updated some screenshots Removed chapter one from the document and created a separate document with installation instructions Extended chapter one revision of text Added new chapter one Installing the OTC Dealer application Added Problem Report page Revision of text 6 4 1999 First release 4 Version 4 0 pink sheets 304 Hudson Street 274 Floor New York NY 10013 Tel 212 868 7100 Fax 212 868 3848 www pinksheets com Name Market Maker Phone no e mail OTC Dealer version Problem description Which part window has this problem OTC DEALER Problem Report Form Operating System version How did this problem appear what were you doing how was this different from what you expected be as detailed as possible You can continue on the other side of this form How severe is this proble
6. 4 columns wide You can define a range that 1s much deeper than your current data e g if you had specified rows 2 through 200 above only rows with data would be used This is useful if you want to be able to add more securities for auto quoting later without making changes to your range definition You can always use the Insert Name Define command in Excel to change the definition of your range just click on the PSAQ item in the list and then edit the definition in the Refers to field You should always check that newly added securities to your data fall within the range you have defined otherwise they will not be part of your auto quotation data 2 8 2 Using Auto Quoting with the OTC Dealer You are ready to start auto quoting in the OTC Dealer once you have set up your Excel worksheet as specified above and have been entitled to use auto quoting If you have just been entitled to use auto quoting you may have to log out of your Dealer and log back in again before you can start auto quoting To enable auto quoting you have to start your Excel application and open the workbook that contains the PinkSheetsAQ worksheet You must then click the Start button in the Excel spreadsheet The symbol column in the My Quotes window will turn green for every security SS BEI you have included in your auto quote list Print and where the Enabled column is either Symbol Y or YO To temporarily stop auto quotin
7. OTC Dealer User TRADER_A logged in LX Setup View Quote Info Help ma mt sk Print Prefs TRADER_A OPEN QClose HLH o prr HLSH HEALTHSOUTH CORP PV OTCBB amp PS PBtr Yes PSID 15861 Cusip 421924101 NBBO 4 32 4 83 500 Last 492 0 07 1 44 14 05 17 Hi 4 35 La 4 84 PCL 4 85 Vol 713 511 Count 255 Ou i x Tatalvalue 3 482 385 77 You FCA 4 93 2500 14 09 4 35 r3 498 09 06 5 00 OF 5 00 0814 5 00 08 4 All Alerts 11 14 39 09 12 06 8 Version 4 0 OTC Dealer 4 0 User Guide 2 1 1 NBBO Your Quote and Security Information To view the montage for a security type in the security identifier into the Security field and press ENTER on the keyboard or click GO A security identifier 1s either the trading symbol CUSIP or internal Pink Sheets ID The security information 1s displayed to the right of the security field This information consists of the trading symbol security name Primary Venue PV PiggyBack Qualification PBQ internal Pink Sheets security ID PSID and CUSIP PBQ indicates whether a 15c2 11 filing is necessary in order to quote the security as a market maker a qualified security does not need the filing If the security has been halted by the NASD or suspended by the SEC a Halted Suspended message will show in this area Setup View Quote Info Help ma mt sk Print Prers TRADER A OPEN Qclose HLH so Prt HLSH HEALTHSOUTH CORP PW OTCBB amp P
8. Other buttons and input fields at the bottom are for setting the time in force of the orders and to specify other values such as AON IOC and No counter which take on the default values as specified on the Trader Preferences dialog see chapter 6 Trader Preferences 3 3 3 Order Rules and Options Pink Link messages can only be sent to market makers with open quotes Attempting to send an order to a trader with closed quotes will fail and an appropriate message will appear in the Alerts pane Maximum size of an individual order is 9 999 999 shares You can however specify size up to 100 million for a single receiving market maker Any such order of 10 million shares or more will be broken down into a series of smaller orders specifically a series of 9 million shares orders and one order with the remainder to make up your required number of shares Order sizes can be entered using K or M representing one thousand shares and MM for one million shares For example 5 4k or 5 4m is 5 400 and 10mm is 10 000 000 If you attempt to send an order that is outside the current spread of the best bid and ask you will get a R9fis3r sec Ele E4 warning like the one to the right Clicking Yes s proceeds and sends the order Are you sure you want to place an order with the price outside the spread o ves All outgoing orders have default settings for time in force and other ord
9. any column heading to sort by that Configure Columns for My Quotes x Shown Order Your Quote gt Show gt Inside Quote lt Hide lt Last Price Trade Count vj Show sizes for your quotes vj Show sizes for insides column Click again to reverse sort Sorts are not dynamic but the window gets sorted every time you click on the heading Tip The display font size can be changed any time by using the context menu that appears when right mouse clicking on the window s content 09 12 06 15 Version 4 0 OTC Dealer 4 0 User Guide 2 7 My Ticker and Ticker Windows The My Ticker window is a special instance of a Ticker window that is preset to show all your quotes on the Pink Sheets and OTCBB The My Ticker window will show quote updates inside changes and trade ticks for securities that are currently associated with your trader ID The securities shown on the My Ticker window are the same that appear on the My Quotes window To open the My Ticker click on the mt button at the top of the OTC Dealer window or choose View My Ticker command Other Ticker Windows can be configured to show any security you want by using the Security Preferences dialog see chapter 1 7 Security Preferences Ticker Windows are opened by selecting the appropriate window from the View Ticker command My Ticker MM Updates amp Insides amp Trades PEME 1 000 1 24 eGLS 10 000 0 12 400 2 5 85
10. click on the All Alerts button to open the Alerts window shown right The Alerts window shows a list of all alerts sent since you last logged on By clicking on an alert in the list the full message of the alert will be 4 EE displayed Double clicking on the single alert on the main window also opens up this window and automatically displays the content of the message that is currently showing on the main window 09 12 06 4 Version 4 0 OTC Dealer 4 0 User Guide 1 6 Trader Preferences The Trader Preferences dialog is used to set up options for general behavior of the OTC Dealer and Pink Link Open the dialog with command Setup Trader Preferences or click the Prefs button at the top of the main window The dialog has five sections The Default Execution Size section is for setting the default execution size on incoming Pink Link orders Incoming Order Size defaults to set the execution size of incoming orders to the size of the order Quote Size defaults to set the execution size of incoming orders to the size of your quote for the security No default size assumes no default execution size user will have to type in their own size The Default Order Capacity section sets the default capacity on outgoing Pink Link orders These default values can always be changed when sending an order through the New Order dialogs e e Principal your order will be Principal by default Agency your order will be
11. column shows a number that represents the number of orders sent to this market maker at this price that were active at the time you submitted your order 1 means there were no live orders for that price waiting the market maker before you sent the order 2 that one other market maker has sent him an order before you etc Additionally L in front of the number means that the order 1s liable 1 e you matched or bettered the receiver s bid or ask e The second column shows B for buy S for sell SS for short sell or SX for short sell exempt from your perspective Short sell and short exempt does not show on the receiver side of the order they will always show up as regular sell for the counterparty e Third column is the number of shares that can be executed any partial fills will decrease this number and fully filled orders will have 0 in this column e The fourth column is the Symbol e Fifth column is the price of the order e Sixth column shows whether the receiver can execute ANY amount of the order or AON all or nothing e Seventh column is the market maker ID of the receiver e Eighth column is the order number each order will have unique number e Ninth column is the time the order was submitted its time in force TIF is also shown after the 1n this case 3 minutes e Tenth column shows the number of shares in the original order e The eleventh column shows the status of the
12. how much the quote changes Both sides of the quotes are updated by the same amount thus maintaining the spread The button on the left increases the price on both sides thus moving the quote closer to the inside on the bid side and away from the inside on the ask side the button on the right decreases the price on both sides thus moving the quote away from the inside on the bid side and closer to the inside on the ask side Additional quick quote update buttons shown right are on each side of the L P montage These buttons only affect the corresponding side of the quote The up Away 09 12 06 12 Version 4 0 OTC Dealer 4 0 User Guide and down arrow buttons move the bid ask price up or down respectively by the amount specified in the step indicator above the montage The Join button has a dual function Clicking Join usually brings the bid ask to the inside 1 e matches the highest bid or lowest ask However 1f you first click on a quote in the montage to select 1t and then click Join the quote will be updated to equal the price of the quote that was selected Away moves the quote down the montage lowers the bid or increases the ask price More specifically clicking Away will take the price down two price levels which will match it with a quote that is second best below your current quote 2 3 2 Quick Quote Update Text Another way to update your quote is through the quick entry field It s loca
13. ll in dm eS a u 10 10 20 09 54 41 The Inside and You columns are colored according to from the origin of the quote If the inside is on the Pink Sheets it is shown in green If the inside is on the OTCBB it is shown in cyan blue If your best quote is on the Pink Sheets it will be displayed either in yellow if you have the inside quote on Pink Sheets in green if it s open or in amber if it s closed If your best quote is on the OTCBB is it shown in cyan blue Please note that if you have priced quotes on both the Pink Sheets and the OTCBB but the price differs the You column will have a red background The trade information includes Last Price Last Volume Last Time of trade Net Change Percentage Change Accumulated Volume Total dollar volume and Count number of trades today The My Quotes window can be configured to show or hide columns and also arrange the order in which the columns are shown Click on the Configure button at the top to open up the Configure Columns for My Quotes dialog You can click on any column name and move them from the Shown Order column to the Hidden column or vice versa by clicking on the Hide or gt Show gt buttons respectively You can show sizes along with quotes or insides by checking the appropriate checkbox To save your settings click on Save or click on Reset to defaults to go back to default settings or Cancel to close without saving your changes You can click on
14. remove your firm s quote or click No to close the window without removing the quote My Quotes and Minder Windows The My Quotes Window is a special instance of the Minder windows that is preset to show all your quotes on the Pink Sheets and OTCBB My quotes represents all quotes by your firm that are associated with your trader ID It does not show quotes by other traders at your firm To open 09 12 06 14 Version 4 0 OTC Dealer 4 0 User Guide the My Quote window click on the mq button at the top of the OTC Dealer window or choose the View My Ouotes command Other Minder Windows can be configured to show any security you want by using the Security Preferences dialog see chapter 1 7 Security Preferences Minder Windows are opened by selecting the appropriate window from the View Market Minder command Each line of the Minder windows shows quote and trade information for the security Double clicking on any line pulls up the montage for the security on the main window of the OTC Dealer My Quotes Print Configure Symbol inside You aate ACSH 4 05 3 9 3 90 4 45 4 45 200 ACTU 400 85 0 810 585 0 85 1 000 ACUR JP 2I AKA Ord 2 500 ADGO 1 451 623 1 53 400 ADGRE 0 15 0 ADLI ADMH ADSD ADS oX LastTime 10 04 00 0 00 0 00 3 9 1 60 30 00 4 10 11 53 4555 5 10 10 20 21 179 2700 5 06 04 05 31 27 100 1 000 I 444 677 17 753 19 26 66 227 10 884 05 7 ODO 20 01
15. security The details of the order are shown in the order string The format of this string is described in details in next chapter 5 4 5 Incoming Order List The order text has the following meaning numbers refer to the sample picture above The sender wishes to Buy or Sell number of shares 200 of security TESTS at price 18 00 sender is TEST with options blank AON or ANY and time in force of order is minutes seconds or DY for day order Just below the order string you ll see the accumulated number of shares and the number of orders there are currently live for this security at this price and side In this case you have one live order for 200 shares shown as sh ord 200 1 Information on potential liability if price matches your quote is outside the spread or the security is unpriced and trades primarily on the OTCBB is indicated with labels in front of the order string Potential liability 1s identified with text PLiab on red background non liability with Non L on cyan background and OTCBB unpriced quote with OTCBB on green background If the Inside label changes to O NBBO on cyan background it means the order is outside the current inside If the background on the You label changes to cyan it means the quote 1s outside your quote 3 4 3 Incoming Order List The Incoming Order List shows all live incoming orders in the order they came in with the oldest at top Whe
16. users can press the S key while holding down the ctrl key without holding down the Shift key The Status Panel The title bar of the main window will show your log in status for example User TRADER A logged in See image of the menu bar in the previous chapter The status area at the bottom of the OTC Dealer window has 3 areas e At the far left there is a latency indicator This indicator shows the latency in communication to Pink Sheets server If latency becomes high quote updates and 09 12 06 3 Version 4 0 1 5 OTC Dealer 4 0 User Guide message delivery times will be slow Double clicking the latency indicator brings up a window showing detailed latency statistics The area also doubles as an activity indicator this indicator will move forwards and backwards whenever there is network activity between the OTC Dealer and its server e The center shows alerts i e response on last user action Clicking the All Alerts button opens up a window that shows previous alerts See the next chapter for more on alerts This area will switch to show important status information when applicable such as information on a lost connection to the servers e At the far right there is the time of last message indicator This indicator will update about every 5 10 seconds with the current time If it fails to update it indicates there is a network problem and the OTC Dealer is not able to communicate with the server If the
17. 122 Dan we Pri Shasta 10091479 to ene dal yyy dcs f Piggyback Qualified TESTS E From 06 08 2006 Taena GO Security Type CS Unenlicited quote C First Dany of amp ctr ty Markel Maker Bii ID PENK Hama Pink State LUC O start of day Lr 0 Last Day of Acthety O updates CO Linsobcibed r1 Pm LI Inaertz Hot Linsobcibed Haw York MY 10013 El caletes Phone 11 212 555 5555 Phona 2 To get Marion Ligne Chale Movement Hepat enter Market Maker ID gym Dear y ID or CLISIP fer the particulas pati wtth ya ward do pes The repo Start Date 05 09 2006 End Date 00 09 2006 dr dad pirme cai pa Fc ai Fa ian baa a DPN Past op sn rela e Ut ob Te eT lGgUwci Duo c7 io a rh ae Da Tx cee Roc bof ra Exchade one Unsolicited Both Dum ie ves nai ia vm eu hr n cd ls Pod Seis modes Hn Regi TUN Time f Acion userin Price sol symbol 06 09 06 02 30 20 start TRADER A 15 10000 4000000 200 x 200 TESTS 06 09 06 06 58 06 update raaer_a 15 00000 40 00000 200 x 200 TESTS 00 09 06 08 29 41 update RACER A 5 60000 37 10000 200 x 200 TESTS 00 09 06 09 59 58 update TRADER A 10 00000 F 18 00000 200 x 200 TESTS Securty Dateime ad rhi TESTS Free SOG if Pr 5t tlc ing Pink uma 3 ication Privacy statement Contacting Pink Shea Unsolicited quotas Fist Day of Activity right 5 Pink Sheets ULE Specifying First day of Activity as the date is a useful feature in
18. 8 Auto quoting with Excel for ADR Foreign Ordinary amp Convertable market makers see 17 2 8 1 Setin Lp Auto Quoune TOC BXCET sconto o o ete etae eo aoo a Ne Eno ROM A of du atur abe Cat Mea R 17 2 8 2 Using Auto Quoting with the OTC DEealepus ineo Ped deseen eit deese thee ede Neate ui Deoa ou Meu D de duode aed 18 3 PINK LINK IVIESSAGING c 20 Xl AVM OC CUO iad esata aise se ed vated a ee a pce dct save OR a See a eae ge Nadu m MEME d aaa 20 3 2 PNG NICS SAS AAA RNA 20 3 3 endmes a Pink Link Order MESSI Eu OS SSA A A EE ARAS A A e 21 3 3 1 UIC Order ENUY AS 21 Sue Sending Orders with the Order Confirmation Dialog iiio A A ai A dde ua 21 3 3 3 Order Iules and Opt ONS ta SAT RAEE EE REEE ERER RERE EE TA 23 3 3 4 NX aewang Quisolne Ordets sseeg rk tes iEn EE AAA te 24 3 3 5 Kiling Cancelline CUBO Orders eric ope redd REEE AREE EE ES 25 34 Receiving APink Link Order li A od 25 3 4 1 Incoming Pink Link Orders WII aa 25 3 4 2 The Focus Ate n E CD d A v EET M E MEAM E MEL e UE 26 3 4 3 Incomi o Order List A A W 27 3 4 4 Incomins Order Mandsemie E suco ene oe e ei EE eta e Ua vs WS t ID in reads cr v stes ayaa eed sua ita 28 3 4 5 The Exe cutron Reports and Expired Orders List uuu toein A AA A A eode tus du ue 30 3 4 6 Execution C onfirmiattonc Dido uses iino atro tede tuse Rte ads 31 3 4 7 Receiving Pink Link Messag
19. Agency by default Riskless Principal your order will be Riskless Principal by default The Order Defaults section is for setting the default parameters for new Pink Link orders other than Order Capacity These default values can always be changed when sending an order through the New Order dialogs Time the default time the receiver of an outgoing order has to respond to it Immediate Or Cancel IOC if this option is set then all outgoing orders will be IOC by default All Or Nothing AON if this option is set then all outgoing orders will be All or Nothing that is can not be partially executed by default Cannot be countered if this option is set then all outgoing orders cannot be countered by default The Incoming Order Window section sets default behavior of the Incoming Order Window 09 12 06 Disable beeps a checkbox to specify 1f you want the IOW to beep whenever there is a live order in the window Always bring to front when set the IOW will always come to the front whenever a new order comes into the window Bring to front on first when set the IOW will only come to the front when a new order comes into the window and the window did not already have an active order in it 5 Version 4 0 1 7 OTC Dealer 4 0 User Guide e Don t bring to front when set the IOW will never come to the front on a new order arriving The Executions Window section sets default behavior of the Execution Confirmation Win
20. H MM If the quote has not been updated during the current trading day the time columns shows the day it was updated in format MM DD or the text gt year if it s been more than a year since the quote was last updated Double clicking on the market maker or time columns opens a window with contact information for the market maker which includes phone numbers and name of location Double clicking on the BID ASK or Size Trader Information FIRM JOHN columns does not bring up this window those actions are used to send The Old Firm LLC Pink Link messages see chapter 5 Pink Link Messaging New York 212 555 0000 The second column shows the dollar price per share being quoted on the left hand side the Bid and on the right hand side the Ask Alternatively quotes can be unpriced U Offer Wanted OW or Bid Wanted BW The third column is the size in actual shares e g a size of 200 means two hundred shares Quotes are identified by color The meanings of the colors are e green inside on Pink Sheets open priced quote 1 e top of the Montage e yellow other Pink Sheets open quotes not on the inside e cyan blue Pink Linkable OTCBB quote trader has quotes on both Pink Sheets and OTCBB e light purple non Pink Linkable OTCBB quote trader is closed or does not have a quote on the Pink Sheets e amber closed Pink Sheets quotes e gray stale quote OTC Dealer has lost connect
21. Prosa lo 523 335 4333 Po Tom Son sbra dada in ae elc CUSIP 455782122 Pri Sheets 0 014379 Pug back Qualia Secunty Type C5 Update MAID Update User prm Inside MM Bid lerside MM Ask P 1900 Tor T Ent uxo ALPS But fur ute o 5Tu beioon igesoa20 t lv Pid Eg OH Etat 15 00000 4000000100 x 200 eres T Es OEN Etat 15 10000 40 ooo qOO K 001 eina The Time column shows the time of update inside The Action column shows one of the following e Update indicating a quote was updated e Add or Delete indicating a quote was added or deleted e Startup indicating what the quote was at the start of date e Inside indicating it is an inside quote 09 12 06 36 Version 4 0 OTC Dealer 4 0 User Guide e Open or Close indicating that the following inside was a consequence of the trader opening or closing his quotes Depending on the type of record the other columns will show the quote or inside quote information and the market maker and Trader that submitted the quote update addition removal or opened closed his quotes or the two market makers on the inside when the record is an inside quote 4 1 6 MM Quotes The MM Quotes tab shows quotes belonging to a particular market maker You can specify any market maker Optionally you can specify a trader at that firm Specify the day for which you want to show the quotes or filter out securities from a particular venue Pig
22. S PBG Yes PSID 15961 Cusip 421924107 192 4393 500 2500 Last 4 92 0 07 1 44 14 05 17 Hi 4 85 La 4 84 PCL 4 85 Vol 713 511 Count 255 Tatalvalue 3 462 385 77 Below is the National Best Bid and Offer NBBO This 1s the combined best quote from the Pink Sheets and the OTCBB where available If your firm has a quote for the security is will be shown in the You and You2 area Your best bid and ask across the Pink Sheets and OTCBB is shown in the You area If you have quotes on both venues the lesser quote is shown in the You2 area Normally the background of the You and You2 quote information is blue but it turns red if you have priced quotes on both venues and the prices don t match The color of the NBBO and You quotes indicate on which venue the quote is at e Green quote is on the Pink Sheets e Blue quote is on the OTCBB If there is no inside or your firm does not have a quote for the security then the corresponding information will be blank Inside prices are only shown when there are two priced open quotes Insides are shown for each side independently 1 e there can be an inside bid but not an inside ask and vice versa For a definition of open and closed quotes see chapter 2 2 Opening and Closing Your Quotes If the security has traded the trade information will be displayed on the right This shows the last trade price volume and time High and Low for the day Previous Closing Price PCL Volume for the
23. ST 9949 E Y T 3 4 2 The Focus Area The focus area of the Incoming Pink Link Orders window is used to execute decline or counter incoming orders This chapter will describe in detail the information on the focus area Chapter 3 4 4 Incoming Order Management will describe how to act on an incoming order using the focus area TESTS L1 ak m 2 el am hiord 200M E z In the top left corner of the focus area is the security information the symbol and primary market of the security The primary market shows Pink Sheets for securities that primarily trade on the 09 12 06 26 Version 4 0 OTC Dealer 4 0 User Guide Pink Sheets OTCBB amp PS for securities that are quoted on both the OTCBB and Pink Sheets etc The NBBO shows the National Best Bid and Offer It s colored according to where the quote comes from green means the price is from the Pink Sheets cyan blue means it comes from the OTCBB The You information is your best quote across the Pink Sheets or OTCBB colored same as the NBBO information You can update your quote with the buttons to the right Either move your quote away from the current price with the Away button or unprice it with the Unpr button These buttons only affect one side of your quote the bid side if you receive a Sell order and the ask side if you receive a Buy order Finally the Mntg button will bring up the montage on the main OTC Dealer window for the
24. ST SECURITY J festi faiazefTesti 1 21000 2 00000 500 x 500 m SEE ests 1409 TRADER amp 15 00000 18 00000 200 x 300 ce ri Trader ID Opona Mate mm dd yyyy Venue Piggy Werk unsolicited fA Pk Shen ta E AN m AR UON R008 E Dual PSACTCHB C Qualified Ureta Go ERCEL E Other C Mot Qualified Hot Ungnbcted C Securities mot quoted by firmi varii oniy en current quite Aa nnd Dri dr 17k ane d oer goma pios Bd rd EU srei ena jar eter canem emn DU ines PRG e ensis beri 4 1 7 MM Quote Movement The MM Quote Activity tab shows all quote updates additions and deletions by a specified market maker between two dates You must specify a market maker ID Security identifier and a day Click GO or Excel to export result to Excel spreadsheet J History Server Search Mozilla Firefox mas J History Server Search Mozilla Firefox Fe Edt View Go Boolma Took Hep E a ee 4 9 J0 e hipalago comine prcory newhatenyserve Y O Go CL h gt j hbpcotoquelicom nenvhial_prooy nevhitorerae D Go LL cating 19 Started L2 Latest Headines EQS Admin 64 L1 MDS Users isting v3 0 1 Appie d bandi L EQS Admin 54 HOS Users bing v3 0 C Apple d band uj Fn arn hama Tail Trades Price he 383 333 5555 Prorat Fi imad OTC iri la ithe ebore dala io iso p wama itl O LIET OTG wd odds rrer italiano apu E Fara Esad am qal y BinLH OUT aed as per erties TESTS TEST mDCUMITY 5 CUSIP 4 amp 752
25. The pop up behavior of this window can also be set on the Trader Preferences dialog See chapter 1 6 Trader Preferences Incoming Execution Order 99360 TESTS The message format in the execution dialog is identical to the execution message in the order pane or Pink Link messages window see chapter 3 4 5 The Execution Reports and Expired Orders List The confirmation dialog shows you how many confirmations you have in the queue allowing you to view the next execution in the queue if applicable or closing the dialog Manage Trader 3 4 7 Receiving Pink Link Messages Sent To Other Traders A Pink Link message is always sent to the owner of the quote at the receiver s firm and all his hers assistants However through Trader Proxying it is possible for any other trader at the firm to request receiving a copy of all Pink Link messages sent to another particular trader This does not relax the rule that a quote must be priced and open and the owner of the quote must be logged into the OTC Dealer in order for the message 09 12 06 31 Version 4 0 OTC Dealer 4 0 User Guide being sent But it is useful if two traders share some stocks or if a trader has to leave his desk for a few minutes To turn on Trader Proxying go to Setup Manage Trader Proxying You will see this dialog simply check any trader s at your firm that you wish to get copies of messages sent to As soon as you click OK any message sent to the tr
26. ader s you have checked will be sent to you and you can respond to it just as 1f you were the intended receiver 09 12 06 32 Version 4 0 OTC Dealer 4 0 User Guide 4 Advanced features 4 1 History Server The History Server is used for viewing Today s notices quote and or Pink Link activity and searching for securities Clicking on the Hist button on the OTC Dealer window brings up the History Server Clicking the Find button on the OTC Dealer window opens up the History Server on the Search for Securities tab To switch between different functions of the History Server click on the appropriate tab along the top The History Server is a standard web browser window and may differ depending on which browser your system is configured to use 4 1 1 Today s Notices This is the default page of History Server It shows notices to securities on the Pink Sheets By default it displays information for all securities on the Pink Sheets You can filter it down to securities quoted by your firm or by your trader account using the radio buttons at the top and clicking GO Fle Edt View Go Boolorarks Toos pl e ON itti ww DLE Cory MENA _ Pies retener pon o i has Me Gettng Started El Latest Headines EQS Admn O 64 MDS Users isting v2 0 Appie bind pinksheets 4 1 2 Security Changes The Security Changes tab allows you to search for information on securities or to see previous changes to trading symb
27. as many buttons as possible before continuing on the next line You can choose which securities you want to have represented on the Speed Keys window See chapter 1 7 Security Preferences for detailed instructions on this function Managing Desktops You may save your current desktop configuration including the location and size of all currently open windows The command Setup Save Desktop ctrl S saves the current desktop To retrieve the last saved desktop select the Setup Reload Desktop ctrl O command The last saved desktop is automatically retrieved when you log into the OTC Dealer The command Setup Save Desktop on Log Out specifies whether to save the current desktop each time you log out or not 09 12 06 39 Version 4 0 OTC Dealer 4 0 User Guide 4 4 On line Security Information The Info menu has direct access to Pink Sheets website to view various information and news on the security currently on the montage The options are 09 12 06 Quote and Trade delayed quote and trade information Chart historical and intraday price charts Company Information News SEC Filings Quote and Trade Chart Hews SEC Filings OTC Market Stats OTC Market Stats various information such as highest volume biggest gainers etc 40 Version 4 0 Change History 40 8 2006 3 1 9 2004 30 X 5 2004 24 6 2003 22 6 2002 14 7 24 2001 1 3 12 3 13 2000 1 1 2 12 1 1999 1 04 1 0 3 8 10
28. day number of trades for the day and Total dollar value of all trades today You can set up Security Preferences for the security on the main window by clicking the Prf button next to the GO button This opens up the Security Preferences window with the security pre set for editing See chapter 1 7 Security Preferences The Montage The quote montage shows the combined OTCBB and Pink Sheets quotes If a market maker has quotes on both markets then both quotes are shown unless the prices on both quotes match or either quote is unpriced then just the priced quote is shown The montage is split in half the left hand side shows the bids and the right shows the asks Your quote is identified with a blue background On each side the best price the inside is shown at the top If two market makers have the same price then the market maker with the greater number of shares size is ranked above If both price and size are the same then the market maker with earliest time of update is 09 12 06 9 Version 4 0 OTC Dealer 4 0 User Guide placed above Exception all priced Pink Sheets quotes are ranked above same price quotes from OTCBB Finally all closed quotes are placed below the open quotes 14 09 mal pm LIA 4 38 09 06 2 00 07 28 5 00 08114 5 00 TENE The first column on each side shows the market maker ID that is quoting the price The fourth and last column shows the last time the quote was updated in format H
29. der stays live in the incoming list after it has expired there is a way to remove it permanently Right click on the order in the list and select Remove Order from the pop up menu that appears Once order has been removed it is impossible to get it back 3 4 5 The Execution Reports and Expired Orders List Upon execution of an order an Execution message shows up in the message panes of the main window and the Incoming Pink Link Orders windows Execution reports are colored green The execution message will appear on both sides of the execution 1 e the sender and the receiver of the order The execution message will always reflect what you did whether you bought or sold The picture below shows an expired order in amber and an execution in green on the Incoming Pink Link Orders window Orders that have been fully executed have timed out were killed or countered are shown in amber color Declined orders are shown in red The format of expired orders is the same as live incoming as specified in chapter 3 4 3 Incoming Order List with the addition of last column showing the reason it expired For orders that have timed out the last column will display T X if killed by sender D if declined by receiver P if partially executed E if fully executed or C if countered In the example above the order was fully executed as indicated by the E EX 500 following the 500 the original number of shares 09 12 06 30 Ve
30. dow e Don t show executions a checkbox to specify if you want the Executions Confirmation window to show or not e Disable beeps a checkbox to specify if you want the Executions Confirmation window to beep whenever it is showing e Always bring to front when set the Executions Confirmation window will always come to the front whenever a new executions comes into the window e Bring to front on first when set the Executions Confirmation window will only come to the front when a new execution comes into the window and the window was not already open Click on the Save button to save your settings The Close button will close the dialog without saving Security Preferences The Securities Preferences window allows you to personalize the five Market Minder windows the four Tickers not the My Ticker and the Speed Keys window by specifying which securities you want to include in each window To open the Securities Subscriber window shown below choose the Setup Securities Preferences command Alternatively you can click the Prf button next to the Security input field on the main window to set the preferences for the security currently being viewed on the main window amp Security Preferences Mima rr E TESTF 12345 12345 TEST 12345 12345 B TESTS 12345 2345 AS 2345 2345 ma d2 Ds DA Ds wicems Da Cis EXE The Securities Preferences window shows rows of security identifiers with columns repre
31. e context menu Opening and Closing Your Pink Sheets Quotes The Pink Sheets does not set opening hours for traders so you must open or close your market when you want quotes to become firm or not firm Only when your quotes are open are your quotes considered firm Also you will not be able to receive Pink Link messages from other firms unless your quotes are open see chapter 3 Pink Link messaging Closed quotes will always be ranked at the bottom of the montage and closed quotes can never affect the inside price of a security The indicator at the top right hand side of the main window shows your current open closed status OTC Dealer User TRADER_A logged in NX Setup View Quote Info Help ma mt sk Print Press TRADER_A OPEN QClose To open quotes you can e Click on the QOpen at the top right hand corner of the OTC Dealer window e Select the Quote Open Trader command or e Hit the F4 key Similarly to close your quotes e Click on the QClose at the top right hand corner of the OTC Dealer window e Select the Quote Close Trader command or e Hit the F5 key The easiest way to change your open status is to click the button at the top right hand side If your quotes are currently closed the button will say QOpen If your quotes are currently open the button will say QClose Clicking the button will flip your open status and subsequently alter the open status of all your quotes on all releva
32. ectronic link for instant communication straight through processing and increased trader efficiency Pink Link works with the Pink Sheets to bring Order and Execution Report message delivery across the OTC Dealer service and via a FIX 4 1 connection Pink Link allows market makers and broker dealers using the OTC Dealer to instantly communicate with each other With Pink Link traders can send market makers order messages and the market maker can electronically execute negotiate or decline the orders through an Execution Report message that 1s sent back through Plink Pink Link messages are viewed and managed from the OTC Dealer window or the Pink Link messages window In addition historical Pink Link messages can be viewed through the History window see chapter 4 Viewing quote and Pink Link activity Pink Link messages can only be directed to a particular market maker A Pink Link message cannot be sent to a market maker who does not have an open quote for the security Pink Link messages are always directed to the trader at the receiving firm who has a quote for the security However if the trader 1s open and able to receive a message other traders at the same firm can choose to receive copies of all messages sent to him See chapter 3 6 Receiving Pink Link Messages Sent To Other Traders The Message Pane The message pane is located below the montage on the OTC Dealer window The message pane is primarily intended to watch for o
33. er a price that 1s less favorable to you than the original order you are warned and asked if you want to continue Counter Order Order 11359 X TESTS TEST SECURITY S If you get an incoming buy order you can execute it as Counter order a regular sell sell short or sell short exempt If you B 200 TESTS 1800 ANY TEST 1449 909m check either the Short or ShEx checkboxes you C nw se oo shares amp 1 8 00 execute a short or a short exempt sell respectively BL epee when you click the Sell button If neither button is 9 4 eMarket Maker TEST Shex T RskI Pr checked it is a regular sell Similarly you can specify Time in Force 1 min z3 sec L an or Nothing caom your execution as principal agency or riskless Q Day Order good until end of day Can not be Countered principal by checking the Agency or Rskl Pr Immediate Or Cancel buttons If neither button is checked it will be a Reset clear Sena ctose principal execution If the order being executed is a countered order whatever short or capacity parameters you specified on the outgoing order that is being countered are retained within the order and the checkboxes will be pre populated accordingly The Next button allows you to step between orders in the order queue The Ignore button will revert the window to pink clear the focus and stop any beeping Ignore Remove Order If for any reason an or
34. er options The default order settings are set on the Trader Preferences dialog see chapter 1 6 Trader Preferences Settings can also be changed for individual orders through the Order Entry Dialog see chapter above The options and settings you can specify are e Time in force TIF the duration from the time the order ET is sent until it times out This can be set to anywhere from ME _ Day roc aon noc 10 seconds to 999 minutes Alternatively you can specify the time in force as day order or good until end of day you can not make Day Order the default e Immediate Or Cancel IOC if the receiver partially executes the order the remainder of the order will be immediately killed 09 12 06 23 Version 4 0 OTC Dealer 4 0 User Guide e All Or Nothing AON the receiver has to accept the full amount of shares or decline the order e Cannot be Countered noC the receiver cannot counter an incoming order with a different price and or size 3 3 4 Viewing Outgoing Orders After you ve submitted an order it will appear in the sender s message pane on the OTC Dealer window in light blue cyan color When an order expires or 1s fully executed 1t turns amber Kill All At the very bottom of the OTC Dealer window is an alert indicating the success of the order submission if the order is rejected for any reason the message will reveal what went wrong The outgoing order text has the following parameters e The first
35. es Sent To Other Ts asa 31 A ADVANCED FEATURES rcr KEren oa ENE a rE EES sess E EER eae EERO EENES EEEE 33 gali HIStory Servei ne E 33 4 1 1 A AO 33 4 1 2 Security Chang A D T LES 33 4 1 3 A E eI 34 4 1 4 PEInk MESES did 34 4 1 5 Secure PR Kr 36 4 1 6 MM E Sel s MN UU UU P T 37 4 1 7 NENECIOtS MOVED iS ASA ASAS SA AS LN 38 4 1 8 Trader Open Close A CUVIY a ico ic esr eode Dios peut NE I Uo o cum MU E E A EL Aces Due 39 LUNES os cid ios err E 39 43 Mana Des da 39 AA iia etaed Ea mdi ae aeui TEE EERE gua E dee pr caf E ARE E R TEE Ta 40 PROBLEM REPORT RORM sc EEE EDAD AE AAA AR AAA 42 09 12 06 11 Version 4 0 OTC Dealer 4 0 User Guide Introduction The OTC Dealer is an application that provides access to Pink Sheets Electronic Quotation Service EQS The EQS allows market makers to publish quotes that are redistributed in real time over Pink Sheets proprietary network and to market data vendors The OTC Dealer also allows market makers to directly send order and execution messages to other market makers via Pink Sheets Pink Link service The OTC Dealer connects to Pink Sheets servers either through a direct connection or across the public Internet A dedicated connection is recommended when connecting over the Internet using either a T1 or higher or a DSL or cable modem connection The OTC Dealer application is written in Java a computer language that allows program
36. euters or alternatively have them point to a second workbook where calculations are done based on information from such information terminals To clarify the 4 columns you must fill in are Move or Copy Select All Sheets View Code e Symbol the symbol of the EN Microsoft Excel AutoQuote Template xls Miaa security GU Ele Edt Yew nsert Format Toos gata window Iep 15 x Cae oe ear X mc A E AHi 100 60 8 Sx AJ m Symbol e Bid Price usually a formula you A B C D E F 6 1 Pink Sheets Aultplduote Revised 0624506 salus TESTA update recerved 5919 AM create to calculate your bid or 0 EZ e regem Star zero for an unpriced bid Se Price Aak Price oe 2 TESTS 18 1 19 95 Y e Ask Price usually a formula you ex create to calculate your ask or 0 zer 0 for an unpriced ask rik r HN PinkSheetsAutoQuote a Daw i aytoshapes w 1Olg AH S A RMN e Enabled This column should be Ready 7 populated with Y YO or N indicating whether this quote should be automatically submitted to the OTC Dealer or not YO is identical to Y but will overwrite the lock cross check on quote submission 1 e it will allow you to lock or cross the market when auto quoting The final step is to define the range where your ETE 1 0 data is contained The range should be 4 columns Auto quote data was found below the defined PSAQ range wide and contain at least as man
37. g in one particular security change S the value in the Enabled column to N STA 10 00 05 5060x200 E PIMK B If a quote update fails with auto quote the symbol column will turn red You are not allowed to auto quote a security that does not appear in your My Quotes window If you want to auto quote a security your firm is quoting but it does not show in your My Quotes window remove the quote and then add it back in It should now be in your account and displayed on your My Quotes window 09 12 06 18 Version 4 0 OTC Dealer 4 0 User Guide If you want to add securities to your auto quote list during the day then add the security to the list in the Excel auto quote workbook stop auto quoting briefly and start it again Auto quote will always submit the minimum size required for the price as specified in chapter 2 3 1 How to update quotes Bid prices will be reduced down to the nearest 1 cent if price 1s less than one dollar down to the nearest 5 cents if the price is 1 dollar or higher The same rule applies to ask prices except that prices are increased up to the nearest 1cent or 5 cents To stop auto quoting completely click the Stop button in the Excel spreadsheet Your My Quotes window will turn white when auto quoting has been disabled 09 12 06 19 Version 4 0 3 3 1 3 2 OTC Dealer 4 0 User Guide Pink Link Messaging Introduction Pink Link enhances the trading process on Pink Sheets with an el
38. gyBack status or Unsolicited quotes Click GO or Excel to export result to Excel spreadsheet E 4 Pip viec a rehus preocy uev it oreet DOR LN CE e t Gettng Started El Latest Headlines ES Admin Ex O MOS Users bimg v3 0 C Appie d bean ruth nal quod ed by fan works ori on curmenz guobes Copyright 2005 Pink Sheets LUC Legal Notification Privacy Statement Contacting Pink Sheets The result will show you current quotes if you re searching current day or quotes at end of day for any other day If the security was quoted during the day but had been deleted end of day the Deleted column will note that 09 12 06 37 Version 4 0 OTC Dealer 4 0 User Guide J History Secver Search Mozilla Firefox Dp S en hip eee otequole com hehe pncony nehsitonesener nort nova s tnos tdate s DIOS 20068pb27 D ca LL Geting Started LA Latest Headines _ EQS Admin 64 MOS Users king v3 0 C Apple bindi a LL pintsheects SSD PERE Loge Do TRAE A hena Fast Trader Epa ly 533 333 33303 Ema Wai Coad it iia pers kal j DO LEA OTS aed ds puer fete Market Maker Quote List on 06 05 2006 aaa teat rl Export tp excel Back to search pags MM TD PINE Pink Sheets LLC aw York NY 15013 Phone 11 212 555 S555 Phona 2 al Price jansa INK TEST Ex p RADER A L00000 14 0000068000x 1 fr IM TEST 2 pres DIN mT f 120200001 11 EST ADR SECURITY TEST FOREIGN SECURITY TES TF ses St 5 OOOH S00 x 500 TE
39. ick size multipliers are on each line Clicking the x2 button will double the size of the corresponding order Clicking the 2 halves the size x5 and 5 similarly multiple or divide the size by a factor of 3 09 12 06 22 Version 4 0 OTC Dealer 4 0 User Guide e By changing the value of the total size field at the top the total number of shares are allocated to the market makers you have specified Similarly the quick size multiplier works on the total number of shares and increases each market maker line accordingly Each line can be sent off independently with the Send button on the corresponding line Clicking the SEND ALL button will send off all orders at the same time and close the dialog The Close button closes the dialog without sending any order A single market maker line can be deleted by clicking the corresponding Remove button As specified above if you are sending a sell order you can use the checkboxes to the right of the price field to specify short sell or short sell exempt If neither button is selected the order will be a regular sell If you have selected either button clicking on the other will reset the first and set the second Clicking on a selected button will reset it to specify regular sell again Similarly buttons at the bottom of the window are for specifying principal agency or riskless principal orders Principal is default if neither button is selected
40. ion to server If a firm has a quote for a security on both the Pink Sheets and the OTCBB and they are identical only the Pink Sheets quote will show If the price differs both quotes will show unless one of the quotes is unpriced then only the priced quote will show Any Pink Sheets quote will be ranked on the montage above an OTCBB quote of same price regardless of quote size or time of update 09 12 06 10 Version 4 0 2 2 OTC Dealer 4 0 User Guide Open priced quotes are considered firm by NASD Rules see Notice to Traders http www otcbb com news 2000 GeneralNews headtrader20002 stm Closed quotes on the Pink Sheets i e quotes from market makers who haven t opened their books are shown in amber but they also have a c preceding the market maker ID see chapter 2 2 Opening and Closing Trader for a definition on open and closed traders When quotes are updated they are briefly flashed in a reverse color If the Montage turns gray it means the OTC Dealer has lost connection to the server Please refer to chapter 1 4 Status Panel for further explanation Quotes on the Pink Sheets are regarded as market maker quotes by default Unsolicited quotes 1 e those reflecting unsolicited customer orders are identified with a lower case u after the market maker ID Tip The font size of the montage can be changed any time by using a mouse and right clicking on the montage and selecting increased or decreased font size from th
41. ions or Orders When selecting Orders you can further specify which orders to show depending on such things as if they sent or received were declined timed out or were killed 09 12 06 34 Version 4 0 OTC Dealer 4 0 User Guide You can specify further search criteria such as date and time order ID security contra market maker and user at your firm Click GO when you have specified your criteria J History Server Search Morilla Firefox He git Vew Go Bookmarks Too amp Hep 4 5 OP Lo ttp ww otequete coen newhaz proxy newhaitoryseneermon Ga Mb Getting Started EJ Latest Headines ES Admin Li 64 l MOS Users isting v3 0 C Appie d End Pinksheets hmi PIE Lar Do YEAH A aca Ted Taider Vus Pra o 538 398 SN Dena Imai 1 a rAT Ste and idas ques rn ninm p Time rom boc Onder TER opitional Symbol opinn Market Maker Contra MM cp na User optional Luo EXCEL To get peni lene messages lor a particolar securty please enier symbol Secunty ID CUSE Ta pet elormation los a parbculae mada aed tma FH mm 55 lor shach yog wan bo Eure orders de ro RUP ub be ad BS b The search result shows a list of executions that fulfill your search criteria You can click on each line to see the full order trail for each execution or order J History Servar 5earch Mozilla Firefox Fe git yew Go Boounwis Joos Hep qE p 5 JJ e Pepo venti bope com nesehast proxy fniesihistony server porta n
42. m L1 cosmetic L1 something did not work L1 program crashed L1 computer crashed O other Can you reproduce the problem O always L1 sometimes L1 happened a few times L1 only happened once O don t know Other comments You can continue on the other side of this form
43. market makers The Auto quoting feature allows you to calculate your quotes in Excel and have them automatically submitted to the OTC Dealer to be published on the Pink Sheets This feature has been tested on Windows NT and Windows 2000 with the Excel 2000 version only It may work on other version but Pink Sheets does not offer support unless you use the above versions You must be entitled by the Pink Sheets to use auto quoting Please contact the Pink Sheets on 1 800 LIST OTC to inquire about enabling auto quoting on your account and PC 2 8 1 Setting Up Auto Quoting in Excel In order to use auto quoting you must first set up your Excel workbook to include a worksheet called PinkSheetsAutoQuote which comes in a workbook called AutoQuoteTemplate xls and was installed with the OTC Dealer You can either choose to use this workbook or copy the worksheet from it into your existing workbook To copy the worksheet right click on the name tab at the bottom of the workbook window where it says PinkSheetsAutoQuote and choose the Move or Copy command to move it into your existing workbook The PinkSheetsAutoQuote worksheet contains 4 m columns labeled Symbol Bid Price Ask Price WAN Pinksheetsautoqu r Soo Insert AutoShapes and Enabled It also has two buttons Enable e Ready Delete Rename AutoQuote and Disable AutoQuote You must fill in the columns with appropriate links to information terminals like Bloomberg or R
44. n an order is executed or it expires it is automatically removed from the list By default the order at the top of the list is also shown in the focus area Clicking any order in the list will bring that order to the focus area and it can be acted upon 09 12 06 27 Version 4 0 OTC Dealer 4 0 User Guide The live incoming orders are shown as lines of yellow text The meaning of the text 1s the following The first column indicates liability and order position IL means it s a potential liability order I means it is non liability The number following shows the position in the queue i e if it s the first to come in at this price or second etc Thus ILI means it is a potential liability and you received no prior order for this security at this price The second column shows either B or S for buy or sell order from the sender s perspective Third column is the number of shares that can be executed any partial fills will decrease this number The fourth column is the Symbol Fifth column is the price of the order Sixth column shows whether you can execute ANY amount of the order or AON all or nothing Seventh column is the market maker ID of the sender Eighth column is the order number each order will have unique number Ninth column is the time the order was submitted its time in force TIF is also shown after the e g in this case 3 minutes Tenth column shows the number of shares in the o
45. ngle between the price and market maker for compatibility with other systems that may require this Example order string B200TESTS13 25ABLE means I want to buy 200 shares of TESTS at 13 25 and direct the order to market maker ABLE To submit this order press the Enter key on your keyboard or click Snd If you want to alter the order before submitting you can either directly edit the quick entry field or click the Ord button to the right of the field to open the order entry dialog see chapter 3 3 3 The Order Entry Dialog You can put N F or I at the end of the text for non negotiable all or nothing AON or immediate or cancel IOC respectively These parameters take on the default values as specified in the Trader Preference dialog See chapter 1 6 Trader Preferences It is not possible to disable IOC or AON and they cannot be countered parameters through the quick entry field if they were set as default in the Trader Preference dialog You can only disable it on a single order basis through the order dialog see next chapter 3 3 2 Sending Orders with the Order Confirmation Dialog The Order Confirmation dialog can be used to send a single or multiple orders at the same time The Order Confirmation dialog can be opened in various ways e Click the Ord button to the right of the quick entry field This brings up a blank Order Confirmation dialog If an order string has been entered into
46. nt montages and inside quotes When you open your quotes only those quotes that appear in the My Quotes window will open see chapter 2 6 My Quotes If a particular quote does not open it is because someone else at 09 12 06 11 Version 4 0 2 3 OTC Dealer 4 0 User Guide your firm is quoting it and thus the quote is associated with someone else s trader ID at your firm To confirm this double click on the market maker ID of the quote and the information window will show you the trader who is associated with the quote see chapter 2 1 2 The Montage If this window shows another trader at your firm as the owner you may still be able to update the quote because of your update privileges but you cannot open the quote You either need to ask the other trader to open his quotes or you can remove the quote and then add it back on The quote will then be associated with your trader ID See chapters 2 5 Removing a Quote and 2 4 Adding a Quote Updating a Quote 2 3 1 Quote Update Dialog and Update Buttons If your market maker firm has a quote for the security you are currently viewing the section above the montage will show the quote update buttons If your firm does not have a quote for the security this area Update ul BJ C El Unpr Rmv will be mostly disabled except for the button to add a quote see chapter 2 4 Adding a Quote Clicking the Update button or choosing the Quote Update Quote F6 brings
47. ols or security names Specify either to search by security symbol or by name and click the appropriate GO button with that section You can also limit the search to particular day range and further specify what kind of change you are searching for by using the section on the right and clicking GO below that section 09 12 06 33 Version 4 0 OTC Dealer 4 0 User Guide J History Server Search Mozilla Firefox Fie Edt View Go Boolomurks Took Hep H Y OP L impuro otequote comnevtan_prom newttoryseneer pon D Ga iG Geting Started El Latest Headines _ EQS Admin 64 L MDS Users itr v2 0 C Apple bindi Md Do PEME Prosa li 3335 333 Y i qium e di in EN Enter Sandro TEST Stats wath Symbol Changes k Company Mara Charen Enter company Hama LJ Symbol and Nama Changes Coslada ymist Starts wath 0 Prmany Venue Changes incida O Pgri tule Qualis ations L Spat Changes Loo Copyright 2005 Pink Sheets LLC d Relea f Rm g 4 1 3 Security Search The Security Search tab allows you to search for securities This page is opened when you click Find on the main OTC Dealer window Specify the string to search for and click GO or hit ENTER on the keyboard Alternatively you can view the search results in Excel by clicking Excel When the search results show you can click on the Symbol to view the quote montage in Dealer or click on the security name to view the detailed sec
48. order As this order has not been answered the status 1s blank Status can also be T timed out X killed by sender D declined by receiver P partially executed E fully executed or C countered 09 12 06 24 Version 4 0 3 4 OTC Dealer 4 0 User Guide e An optional twelfth column shows AY for agency or RP for riskless principal order if you specified this on the outgoing order Principal is default and is not specifically identified 3 3 5 Killing Cancelling Outgoing Orders You can Kill Cancel any outgoing order while it is still active You can either kill a single order or all orders for a particular security To kill a single order first click on it to select and then click Kill L1 8 200 TESTS 15 00 ANY TEST 9936 11 25 25 Im23s EM Kill INCM MSGS Kill All To kill multiple orders you can do either of two things e To kill all orders for the security on the montage simply click Kill all e To kill all orders for a particular security click on a single outgoing order for the security and then click Kill all Pink Link has no minimum requirements regarding how long the order must remain active before you can kill 1t or kill replace it Receiving A Pink Link Order 3 4 1 Incoming Pink Link Orders Window The Incoming Order Window displays your incoming orders and is used for order management The window changes colors from pink to yellow whenever you have a live incoming o
49. order to find out when a market maker first entered a quote for a security 09 12 06 38 Version 4 0 4 2 4 3 OTC Dealer 4 0 User Guide 4 1 8 Trader Open Close Activity The Trader Open Close Activity tab shows the time a trader opened or closed the market You must specify a Firm market maker ID Trader ID start date and end date Then click GO or click Excel to export result to Excel spreadsheet https ww otequabe com nevitist peosylnewhistonysenger portal pagel abis Tradersisa00pen O Go CL certa Stated El Latest Headknes EQS Admin 11 64 3 MDS Users bmg v3 0 CI Apple d band Pinksheets Trader Dc Opbona Start Date mm diyy End Date mmidd yyy A DEJCALIOOS Cac cel Te uo To get Tracer Opens Repod emer Market Maker ID Trader ID asta date and end date Ke he panad qos oe terested n Copyright 2005 Pink Sheets LLE Legal Notification Privicy Statement Contacting Pink Sheets Speed Keys The Speed Keys window has a number of hot buttons that give one click access to security information on the OTC Dealer window To open the Speed Keys A a window shown below click on the sk button at the top of the do OX OTC Dealer window or choose the View Speed Keys command The caption of each button is the symbol of the security to which it Testy corresponds The buttons will be sorted alphabetically by their caption starting at the top left corner then going across fitting
50. ovia struelkstetdan D gs CL Me ceteng Sorted 2 Latest Headines ENS Admin AA HDS Users Bing v3 0 C Apple d br Pinksheets Phasa KE A KINI Mean BD the mbare dace wg errai piensa rel i BOO Export te arcal lack bo tawch g cocker to pm biii PINE Contra MM Ure Pease cick on ac em to vew det ded order trad for am particular order m X PIHE amp 608 2DDE B 200 TESTS 15 00 IESE 2 PINE 609 2006 S00 TESiF 4 00 TESE PIHE 6 09 2006 a TESTF 4 00 TEST Ba X PIHE 06 09 2006 500 TESTF 4 00 TEST EX FIRE rgt H TESTS 18 00 TEST n E PINE 006 a ZI 15 00 TEST EX PIHE 06 05 2006 B zt TESIS 18 00 TESI Na of Records 7 09 12 06 35 Version 4 0 OTC Dealer 4 0 User Guide J History Server Search Mozilla Firefox t gt J00 cettng Started 2 Latest Headies ENS Adm 6x HDS ses hing vid C Apple d libri I0 TRAC AA lisma Tamil trader fiscal KR kiii eee Fus B tha deta a correct c nad Pinklink Order trad Order mo J data 06 00 2006 Hos Order IL 5 300 a TESTS 15 00 Seader TEET SIOQNI Receiver PIBK TFADER Orderid J Time 06 14 53 Duration Ja AW TEST Execution EX PINE 06 09 B 200 Execution ID 1 Executed byt PIH TRADER E 15 00 TEST 08 14 56 Type of msg cetional Executions 1 Orders Aids Date DE 03 2006 Timo bromo 0 00 06 17 00 06 Order ID optiena Soy rribesid ix sna Market Maker Chpthenal Falk 4 1 5 Security Quotes
51. pink sheets 304 Hudson Street 2 floor New York NY 10013 www pinksheets com OTC DEALER version 4 0 PINK LINK USER MANUAL Version 4 0 September 2006 OTC Dealer 4 0 User Guide TABLE OF CONTENTS INTRODUCTION 2 eclesie riso cedu vae Uia Dre epe NOE ERA Eee ias III l GEPTING STARTED PORO 1 Lll Launching the OTC Dealer Application senssa A ca Out Rito A RE ces 1 2 ae O AAA A t Led M A ttu O 2 15 Sho VTC icc ta os aces aera cu EE LM M M s 3 LId TAE la LINE 3 io MED 74 0 EE EU NIE 4 SOME be duritie PEE IDEE LLL ER EEA 5 Tee oil e MH 6 WO Chane the PassWord ra lidad 7 pg O supe oecen ccc Um De PF STENDEC EE EE TONES Ste NOTED OE TY eee 7 25 VIEWING AND NIANAGING OU OTE SS T M Nu EYES REUS Ubehs su Yu E GUY AT Mea oe eh Re pre E M QR aeYP CORE RR M EUR CHR AE TVRM RU 8 PN mE CID al er WNdOW RP 8 21 1 NBBO Your Quote and Security Information osos red vai aee Pet a aeu isaac calla 9 2 1 2 Mhe Monate aa a ETE 9 2 2 Opening and Closing Your Pink Sheets Quotes A Es 11 Oy MARIS QUOTE ta E A il 12 2 3 1 Quote Update Dialog and Update BULODS oso totae A A ia 12 2 3 2 Quick Q ote Update Ted A A AAA ENE A A AA E 13 2 3 3 Some Rules When Update Ot iS AA A A er the a E 13 P MEE UOCE A AA A T RT TEM 14 ZJ REMOVING a QUOEsare tota INS A SN 14 2 07 My Quotes and Minder WINdOWS ar dad 14 2 MyTicketand Ticket WINGOWS a A oe oo e s b e S 16 2
52. rder This window is divided into 3 sections e Focus area shows details of one order and allows you to execute the order decline or counter e Incoming Order List shows all live incoming orders in the time order they came in You can click on orders in this list to move them to the focus area e List of executions and expired orders 09 12 06 25 Version 4 0 OTC Dealer 4 0 User Guide Incoming Pink Link Orders NX dd E i i Away Un nto Nex ignore L1 sok m E E ik an shiord 20041 pe geg Sell Del Del Exc st amp shee O Rskipr Away Ora Al 200 TESTS 18 00 ANY TEST 10418 11 33 09 3m 2 500 TESTF 4 00 ANY TEST 25 08 51 35 3m 0 TESTS 18 00 AHY TEST 00927 11 25 13 3m TESTS 18 00 ANY TEST 9949 11 25 37 3m The Pink Link Order window can be set to pop up to the front whenever a new order comes in or when a new order comes in and there is no prior live order in the list This is set through the Trader Preferences dialog see chapter 1 6 Trader Preferences 8 Always bring to front Incoming Order Window 7 Disable beeps 0 Bring to front on first O Don t bring to front The Pink Link Order window can also be brought to the front manually by clicking the INCM MSGS button on the main window next to the message pane This button will blink yellow whenever there is a live incoming message B TESTS 18 00 AMY TEST 9922 11 25 13 3m Kill All 200 TESTS 18 00 AHY TE
53. re is a communication problem between the OTC Dealer and the servers the status bar will show a message like Not heard from server since 12 00 00 If this persists for a few seconds the entire montage will turn gray This indicates that the OTC Dealer application most likely has temporarily lost connection to the server Even though you may still be able to view information stored locally in your computer s cache the information you see on the screen might not be accurate As soon as the connection comes back up the screen will revert to its regular colors If the problem persists for a long time users should call their in house technical support or the Pink Sheets help desk at 1 800 LIST OTC Viewing Alerts The Alerts Panel at the bottom of the window shows alerts that the system sends to you such as notifications of successful or not successful operations An alert will be sent each time you update a quote open or close your market or when you receive send or execute against a Pink Link message Alerts are color coded 0 095 06 55 54 e Acknowledgements and successful messages are shown in green text e Rejections and unsuccessful messages are shown in amber e Other messages including warnings when a quote locks or crosses the market are shown in yellow The alerts panel only has room to AN show one alert usually the latest ox alert To view other alerts you can scroll using the up and down arrows on the right or
54. riginal order Eleventh column may show AY for agency or RP for riskless principal This only happens when you are receiving a counter order and you had specified these parameters on the outgoing order that is being countered The incoming counter order will show the same parameters you specified on the outgoing order Short sell and short sell exempt are never shown on incoming orders If sender has sent a short sell or short sell exempt order it will show up as a regular sell on the receiver s Dealer If the incoming order is a countered buy order on an outgoing short sell or short exempt the short sell information is still retained in the order and the Incoming Order Window will default to execute the countered buy order as selling short or short exempt See next chapter 3 4 4 Incoming Order Management The focus area of the Incoming Pink Link window is used for responding to incoming orders Through the focus area you can 09 12 06 Execute the order either fully or partially You can also execute more than one order if you have two or more orders coming in at the same price for the security Decline the order You can also decline all orders coming in at the same price for the security Counter the order with different price and or size 28 Version 4 0 OTC Dealer 4 0 User Guide NBBO i m Away Unpr Mntg Hext Ignore vem l e m me nme n In order to execute the order you must first
55. rity 1 own 2 location and 3 market maker These authorize you to update only your own quotes all quotes by traders at your location or all quotes at your market maker firm Only Pink Sheets Trading Services can set the update authority Call 1 800 LIST OTC to ask about your authority level or to make changes The EQS will reject all quotes that lock or cross the market unless you have explicitly checked the Allow quote to lock cross market checkbox on the update quote dialog before you submitted the quote You will not be warned before submitting a quote if your quote update will lock or cross the market The Unsolicited quote checkbox shows whether the market maker is quoting the security solicited or unsolicited The solicited unsolicited status can only be set when the quote is added not during an update If you want to change the unsolicited status of a quote you should first remove it and then add it back with the desired unsolicited status See chapters 2 5 Removing a Quote and 2 4 Adding a Quote 09 12 06 13 Version 4 0 2 4 2 5 2 6 OTC Dealer 4 0 User Guide You will be warned if a quote update is rejected for any reason and you will receive a notification from the system that can be viewed in the Alerts window see chapter 1 5 Viewing Alerts Adding a Quote You can submit a new quote for a security to the EQS provided that e your market maker firm is not already quoting the security e the securi
56. rsion 4 0 OTC Dealer 4 0 User Guide The format of executions is the following e The first column is always EX e The second column shows your market maker ID e The third column shows the date e The fourth column show whether you B bought S sold SS sold short or SX sold short exempt e The fifth column shows the number of shares this execution 1s for e The sixth column shows the security e Seventh column is the price e Eighth column is the market maker ID of the counter party e Ninth column is the time of the execution e Tenth column shows the serial number of the order executed against e The eleventh column shows a status text The text is either FILLS if the order has been fully filled or LVS number of shares if this was a partial fill e Optionally the twelfth column may show AY if you executed the order as agency or RP if you executed as riskless principal In this example we executed 500 shares as denoted by the execution report The order is fully executed as shown with the FILLS text 3 4 6 Execution Confirmation Dialog If you are the sender of an order you have the option of seeing an execution confirmation dialog upon its execution from the counter party To set this option Execution choose command Setup 7 Trader Prefe ds and PT 200 TESTS 15 00 TEST 11 26 9936 FILLS make sure option No confirmation dialog OD arxacution in quaus next cose executions is unchecked
57. s and exiting the application e View for opening new windows and searching for securities e Quote for managing quotes and opening and closing traders e Info for accessing company and security information on line e Help to access the on line help system and for information about the software Throughout the remainder of this manual commands will be referred to as items in a specific menu The menu is identified as bold italic text and the menu item as italic text Example the command to exit the application is Setup Exit There are also 5 short cut buttons in the menu bar e mq opens the My Quotes window see chapter 2 6 My Quotes e mt open the My Ticker window see chapter 2 7 My Ticker e sk opens the Speed Keys window see chapter 4 5 Speed Keys e Print prints the current montage e Prefs opens the Trader Preferences dialog see chapter 1 6 Trader Preferences e QOpen QClose are for opening or closing your quotes and the trader OPEN CLOSED text shows your current open status see chapter 2 2 Opening and Closing Your Quotes Some frequently used menu commands have keyboard shortcuts These keyboard shortcuts are shown on the menus next to the appropriate menu command Keyboard shortcuts are accessed either by pressing a function key on the keyboard or by holding down the ctrl key while pressing the shortcut key For example to log in users can press the F2 key on the keyboard and to save the desktop
58. s are case sensitive Click OK to make the change or Cancel to exit without changing the password Exiting the OTC Dealer To exit the OTC Dealer application select the Setup Exit ctrl Q command or close the OTC Dealer window by clicking on the x in the top right hand corner of the window this option may not be available on all operating systems such as Sun s Solaris If you re not logged in at this time the OTC Dealer will quit immediately If you are logged in when you exit the OTC Dealer you will be requested to confirm your action If you click Yes you will be logged out and the OTC Dealer application will quit If you click No the operation will be canceled without logging out or exiting the application 09 12 06 9 Version 4 0 OTC Dealer 4 0 User Guide 2 Viewing and Managing Quotes 2 1 The OTC Dealer window The OTC Dealer window is the main window of the application Through this window you can view and control your quotes and set up Pink Link orders to other market makers To view quotes for a particular security type in the security identifier usually the symbol into the white input box near the top left corner then presses the ENTER key on the keyboard or click GO with the mouse Other security identifiers that are supported are CUSIP and unique Pink Sheets internal IDs If you entered a valid identifier the window will populate with information related to the security
59. s are case sensitive make sure you don t have the CAPS LOCK key on if your password contains lowercase characters Finally click the Log in button The log in window displays the current version If there is a newer version available it will offer you the opportunity to upgrade As long as your current version is still supported you are not required to upgrade however if your current version is no longer supported you will not be able to log in until you upgrade Depending on your setup you may have two options of upgrading the OTC Dealer The first option is an automatic upgrade This is usually the best option and takes the least amount of time The second option is to download a new OTC Dealer installer and perform a new installation Please refer to your technical support department if you are not sure how to perform the upgrade Logging In and Logging Out You are logged in when you have typed in your market maker ID user name and password and clicked the Log in button You must be logged in to view information on the OTC Dealer to submit quote updates or to send Pink Link messages If you have quotes on the Pink Sheets at log in you will be presented with a dialog prompting you to open your quotes Quotes are firm only when they are open To find out more about open quotes please read chapter 2 2 Opening and Closing Your Quotes Open Quotes The History Server window opens after logging in The History Server shows no
60. s to operate independently of computer hardware or operating systems Currently the OTC Dealer is supported for the Windows operating systems as well as Sun Solaris and Linux Java Runtime Environment JRE that supports Java version 1 5 is required to run the OTC Dealer application The OTC Dealer install application includes a Java Runtime Environment This guide describes the OTC Dealer application version 4 0 Throughout the guide it is expected that users have basic knowledge of how to operate a computer 1 e point and click select menu items and manipulate windows Since Java language is independent of operating systems this guide will not mention system specific operations but rather describe how the program works generally See the OTC Dealer Install Guide for instructions on how to install the OTC Dealer application The Install Guide is available at http www otcquote com manual installguide A copy of this manual is available on line at http www otcdealer com manuals 09 12 06 111 Version 4 0 OTC Dealer 4 0 User Guide 1 Getting Started 1 1 Launching the OTC Dealer Application To launch the OTC Dealer on a Windows computer double click on the OTC Dealer icon on the desktop Alternatively the OTC Dealer can be a e launched from the Start menu by selecting OTC Dealer from the OTC Dealer folder under the Programs item in the Start menu Launching the OTC Dealer on other systems such as Sun s Solaris
61. senting each of the windows that can be personalized Each row has clickable numbers under the Market Minder and Tickers that are used to identify in which Market Minder Ticker or Speed Keys window the security should appear The same security can be present in multiple instances of similar windows for example both in market minder windows 1 and 2 L 09 12 06 6 Version 4 0 1 8 1 9 OTC Dealer 4 0 User Guide By clicking on any line of the list the security is moved to the detail area below where the settings are repeated with checkboxes To set up preferences for a new security type in the symbol into the field at the top right corner and click Add button You can then specify the preferences by either clicking on the numbers in the list or the checkboxes below To delete preferences for a security first click on 1t in the list then click on the Delete button To save the new settings either close the window in which case you will be asked if you want to save changes or click the Save button After the settings have been saved all open windows affected by the new setup will be updated To close the window without saving click on the Cancel button Changing the Password To change your login password select the Setup Change Password command You will be presented with the Change E Password dialog Enter your old password for verification then the new password twice for confirmation The password
62. specify in the size field how many shares to execute You can specify if the execution size field should be pre populated with the size of the incoming order the size of your quote or none on the Trader Preferences dialog see chapter 1 6 Trader Preferences You can also click any of the 3 buttons to the left of the field to populate with preset sizes Default Execution Size amp Incoming Order Size O Quote Size O No default size e Clicking the QS button will populate the field with the size of your quote this is the default size for execution e Clicking the OS button will populate the field with the size of this order e Clicking the All button will populate the field with the cumulated size of all orders at this price You can also edit the size field to any number of shares for example to partially execute the order You can specify the price at which to execute with the default at the price of the incoming order You can only give a worse price for your side that 1s sell at a lower price or buy at a higher price This 1s called price improvement If there is an NBBO for the security the Improve button will be enabled Clicking the mprove button automatically adjusts the execution price by the lesser of 1 cent or half the spread of NBBO Clicking the mprove button does not issue a Buy Sell command When you have specified the number of shares click Buy or Sell to execute
63. ted above the montage on the center of the window This field is also used rests eia osesz00a13 30a8200 J Smajfora ew l to submit orders see Chapter 3 Pink Link The syntax of the input text determines whether the text is taken as a quote update or an order string The quote update string has the following syntax symbol space Bbid BSbidsize Aask ASasksize Symbol is the symbol of the security Follow the symbol with a space To change the Bid price type in B followd by the bid price etc For example TESTS B13 05BS200A13 30A 85200 sets your quote for security TESTS to 13 05 13 30 200x200 To submit your quote update click Snd or press ENTER on your keyboard All parameters are optional If no symbol is specified it will submit a quote update for the current security on the montage If B and or A parameters are omitted the bid and or ask price will remain unchanged and if BS and or BA are omitted the bid and or ask size will revert to the minimum quote size For example TESTS B13 05 BS200 is the same as above but it only affects the bid side of the quote and leaves the ask side unchanged and TESTS B13 05 sets the bid to 13 05 but bid and ask sizes remain unchanged 2 3 3 Some Rules When Updating Quotes You can update quotes belonging to other traders at your market maker firm as long as you have the required update privileges There are three levels of update autho
64. the quick entry field the dialog will pre fill with the order e Double click any price or size on the montage This brings up the Order Confirmation dialog pre filled with an order based on the quote that was double clicked on e Click the Hit or Take buttons to the side of the montage These buttons have dual functionality 09 12 06 21 Version 4 0 OTC Dealer 4 0 User Guide o By default these buttons set up an order based on the single quote at the top of the montage 1 e a single order for the market maker with the best bid or ask o If you click on one or more quotes on the montage one or more orders will be set up based on that particular quote s It is only possible to select multiple quotes of the same price e Click the Sweep buttons to the side of the montage These buttons also have a dual functionality o By default these buttons set up an order to all market makers on the inside o If you click on one or more quotes on the montage one or more orders will be set up for each market maker quoting at that price level It is only possible to select multiple quotes of the same price The Order Confirmation Dialog will now open ae EE In most cases it will be pre filled with order s based on the quotes selected as specified above mj SEND ALL The BUY and SELL buttons at the top i MM Li SEND ALL indicate if you are buying or selling You must asz 500 1k 2 5x sk 10 sox lx
65. tices on new securities on the Pink Sheets Dividend X dates Splits etc and also allows users to search quotes and the Pink Link database See chapter 4 1 History Server for more information on History Server A message from Pink Sheets may appear after logging in The message may inform you of upcoming changes general comments answers to frequently asked questions or other topics of the day It is possible to log out of the OTC Dealer while still leaving the application running Once you have logged out you will no longer receive updated information from the EQS and will not be able to submit quote updates or send or receive Pink Link messages Selecting the Setup Log Out F3 command closes the connection to the OTC Dealer This command presents a Log Out confirmation window Clicking the Yes button logs you out of the OTC Dealer clicking the No button cancels this operation without logging you out After logging out you are again presented with the log in window See chapter 1 1 Launching the OTC Dealer Application 09 12 06 2 Version 4 0 1 3 1 4 OTC Dealer 4 0 User Guide The Menu Bar After successfully logging in the OTC Dealer window will appear The menu bar at the top of this window has five menus OTC Dealer User TRADER_A logged in NX Setup View Quote Info Help ma mt sk Prefs TRADER A OPEN QClose e Setup for logging in and out of the EQS changing setting
66. ty exists in the EQS e if the security is an equity it is PiggyBack qualified or the quote is unsolicited To submit a new quote for a security you must first bring up the selected security in the OTC Quote window If your firm does not have a quote for the security on the montage the quote update button changes to Add The quick quote update buttons will also be disabled Clicking the Add button or selecting command Quote Add quote will bring up the Add quote dialog The Add Quote dialog is identical to the Update Quote window except that no Add Quote current quote is shown and the Unsolicited quote check box 1s enabled Unsolicited quotes are quotes entered by a broker on behalf of a client Although it is possible to enter an unsolicited quote for a non PiggyBack eligible security this feature is not intended to bypass filing a form 15c2 11 with the NASD Ml Nj You will be warned if a new quote is rejected for any reason and you will receive a notification from the system that can be viewed in the Alerts window see chapter 1 5 Viewing Alerts Removing a Quote If you click the Rmv button on the OTC Quote window or choose the Quote Remove Quote command you will be presented with the Remove Quote confirmation window This command will be disabled if you are not viewing a security or if your firm does not have a quote for the security you are viewing Click Yes to
67. up the Quote Update Dialog Update Quote TESTS 16 00 18 00 200 x 200 where you may specify the bid and ask price and size pi ASK zm price n Type e Your current quote is shown at the top The Bid Price Type and Ask Price Type pop up buttons specify the type of quote e g Actual if the price is in dollar esee Bid Ask wanted to indicate interest or Unpriced to Mew uotetolocklcrass market sena cone show a quote without a price With actual price types you are not required to enter both the bid and ask price The current quote price will not change if omitted when entering prices in this dialog If you only specify price and not size Dealer will submit the default minimum size as specified in Rule 6750 for the price you specified You are allowed to specify a size greater than the minimum size If the size entered is lower than the minimum required at the price the quote update will be rejected To submit your quote click the Send button or click Cancel to cancel Clicking the Unpr button makes both sides of your firm s quote unpriced The Rmv button brings up a dialog asking you to confirm that you wish to remove the quote See chapter 2 5 Removing a Quote The quick quote update buttons shown right are used for updating the price on both sides of the quote by a particular step amount The 1 25 T J step indicator between the up and down button controls
68. urity information J History Servor Search Morilla Firefox J History Servor Search Morilla Firefox Fie Edt View Go Boolorarka Too amp Hep Fie Edt View Go Boolorarka Too amp Hep pl E amp en http www oboguebr coem newhisz preocy hehe eerie pon O 3 pl ui Ju 8 en hire ww OOO Cory MENE PEO MENTAL rr pan Oc 3 Getting Started El Latest Headines EQ Admin Oi 64 MDS Users birg v3 0 C Appe d Bind Getting Started E Latest Headines EQ5 Admin Li 64 i MS Users birg v3 0 C Appi d bind pinksheets eo PENA Loe De MADIA A aca Tasa Tamias eo PENNE LueciDo TADA A aca Tai Tamias Prosa lo 823 399 1393 Pol rad Ponsa lo 823339 4333 oa i Uni ala ium adim dea im i beue pes cal jd d EL Sh es ral od Ermia esm cusp 57731 SAAS BORDEN CHEMAJLE TOS 1 2 05 eet ASEH BORDEN INC 025 21 Peake ryotuhAE2 BORDEN CHEMICAL B N 16 lpcpu fase gt ovan41703 BORDEN CHAPLAS LTO DEP UT Ipoesr 109783 vwvvvvvvv ORDERS A STHM PETE PLC expyright 2005 Pink Sheets LLC fono 55374 nese11108 BOARDWALK BAJA NJ lponnw paez 09611115 BOARDWALK BANK NI 06 WTS Legal Notification Privacy Statement Contacting Pink Sheets mak jd Seanch Far Bod Lao exces Tz gat BT Penge Dudes bom A AA A A Tea TT b 1 Copyright 2005 Pink Sheets LLC 4 1 4 PLInk Messages The Pink Link messages tab allows you to search for Executions or Orders of which your firm is part Use the radio button at top to specify either Execut
69. utgoing orders and for Killing Canceling outgoing orders The message pane will also show a copy of all incoming orders and executions Kill All The message pane s size can be expanded vertically by dragging the dotted divider between the message pane and the montage up or down You can also scroll the list to see messages that may have gone off the list Messages are color coded depending on what they represent e Yellow Incoming orders that you can still execute against e Light Blue Outgoing orders that can still be executed e Green Execution reports 09 12 06 20 Version 4 0 OTC Dealer 4 0 User Guide e Red Declined orders e Amber Expired fully executed or killed orders 3 3 Sending a Pink Link Order Message 3 3 1 Quick Order Entry A quick way to submit a single order is to enter an order string directly into the quick entry field above the montage In the example below a user from market maker PINK wants to buy 200 ezootests13 254BLE sna ora cir 1 shares at 13 25 and direct the order to market maker ABLE The format of the quick entry string for orders is B S SS SX shares symbol price market maker N F Start with B if this is an order to buy S if this is an order to sell SS for short sell and SX for short sell exempt Then specify number of shares the symbol the price and the receiving market maker Leave no spaces between each item Optionally you may also put a si
70. y lines as the extending to row 6 last Symbol TESTX number of securities you wish to auto quote The Would you like to redefine the range to include the extra data Click No to start up autoquote without the extra data range comes preset to include up to 30 lines of data or call 1 800 LIST OTC for assistance The range will then auto adjust If 1t detects auto 09 12 06 17 Version 4 0 OTC Dealer 4 0 User Guide quote data below the defined range it will present the dialog shown to the right Clicking Yes will auto adjust the range To manually adjust the range select the Insert Name Define command in Excel This presents you with the dialog shown right Locate and click on the PSQS in the list under Names in workbook You can then edit the range where your data is contained in the Refers to section Remember to exclude the top line where the heading is It does not matter if you define the range deeper than your data as all empty lines will be ignored In the example above we selected columns A through D and lines 2 through 6 omitting the top line where the captions are You can also specify the range manually in the Refers to field by typing in PinkSheetsAQ Sfirst Col top row last col bottom row You should substitute first col with the first column of the data in this example A etc Click OK to save your range and then save your workbook The range should always be exactly
71. z 2 xs s specify the side Then there is the total number of Remove 32 2 jxs s sena shares you are buying or selling followed by the Sena price The Order Confirmation dialog can only be J sh Remove 22 ss sena used to send orders at one particular price If you Day IOC AON noc have specified a sell order you can further specify if it 1s a short sell or short sell except by checking the appropriate checkboxes to the right of the price field Each market maker that is to receive an order has a separate line on the dialog The window will always open with one blank line which you can use to specify a receiving market maker After you have typed in the 4 charcter ID of the receiver a new blank line will appear Use the field to the right of the market maker ID field to specify how many shares to send to that market maker The size can be changed individually for each market maker either by typing in the number of shares or by using any of the quick size buttons e lt A row of pre size buttons is displayed Send a new order for TESTS above the market maker information Clicking any of these buttons pre fills the order size field that currently has the muv SEM eoo iso cursor with the appropriate size Button asz 500 ik 2s sx ox 50x x2 QSz will fill in with the minimum size required at the price buttons 500 1k etc will fill in with 500 shares 1000 shares etc e Qu

OTC DEALER, version 4.0 PINK LINK USER MANUAL

Contents

Download Pdf Manuals

Related Search

Related Contents