OTC Markets said Friday the U.S. Financial Industry Regualtory Authority (FINRA) halted trading in equity securities through its markets.
FINRA imposed a quoting and trading halt in all OTC equity securities as of 11:05:06 a.m. ET due to lack of current quotation information currently available in the market place for OTC equity securities, the agency said in a press release.
"Investors and subscribers were delayed in their ability to update quotes,'' said Saskia Sidenfaden, a spokeswoman for OTC Markets Group
That prompted OTC to roll back to a prior version of its quotation system.
Sidenfaden said normal operations were scheduled to resume at 1:00 p.m. (EDT).
Based in New York, OTC Markets Group Inc. is a stock-exchange quotation system which operates a 3-tiered over-the-counter market for 10,000 U.S. and global securities.
Of that amount, roughly 1,500 are Canadian.
The three tiers include OTCQX at the top level, the venture-oriented OTCQB in the middle (3,000 securities), OTC Pink at the bottom.