In addition, the firm is a leading trader of Bulletin Board stocks
and other post-reorganization equities, having added a Bulletin Board desk in the fall of 2002 to its broad equity trading platform.
Hall said, "Although current NASD regulations do not require formation of independent governing committees for Bulletin Board stocks
, it is our intention to move to a senior exchange, therefore, our elective decision to form two critical independent committees of the board was a decision that falls directly within our strategic plan.
All of the Company's Market Makers, who routinely make a market in OTC Bulletin Board stocks
, will continue to make a market in the Company's securities and all Market Makers have been alerted to the impending trading change.
A national listing will give eLinear a much broader investor audience and will also allow us to be followed by certain brokerage firms that traditionally do not recommend Bulletin Board stocks
Remember always the risks involved in Bulletin Board stocks
Due to the recent mention in The Wall Street Journal about September's record volume in OTC Bulletin Board stocks
(October, 10/03), we are anticipating even greater interest in our micro-cap clients.
Thinly traded bulletin board stocks
do not always receive the same type of valuation as their competitors traded through NASDAQ or NYSE.
It appears that this stock manipulation occurs across the entire securities industry, and while it happens mostly in bulletin board stocks
, we also believe it is happening in companies listed on the Nasdaq, the American Stock Exchange, and the New York Stock Exchange," said Carr.