FINRA Updates OTC Equities High-Price Dissemination List
FINRA has published its quarterly OTC Equities High Price Dissemination List for the second quarter of 2026. The update took effect on September 25 and identifies OTC equity securities eligible for trade-report dissemination when the transaction is for fewer than 100 shares.
For the securities on the list that trade at or above $175, FINRA treats one share as the unit of trade for dissemination purposes. That means transactions of fewer than 100 shares are not treated as odd lots for this purpose, and FINRA disseminates last-sale information for trades of one or more shares. FINRA said it reviews trading activity each quarter to determine whether additional OTC securities meet the criteria.
The regulator directs firms and market participants seeking the additions and removals to its Daily List: Security Attribute Changes page, using the Unit of Trades filter for September 24 through September 25.
Why it matters
The dissemination setting affects the trade information visible to participants in eligible OTC names. Traders and firms that use OTC last-sale data, as well as systems that classify odd lots or validate trade reports, should account for the updated security-level attributes rather than assuming a 100-share threshold applies uniformly.
What to watch next
FINRA’s next quarterly review may add or remove securities as trading activity changes. Firms should monitor the Daily List and ensure reporting, market-data and surveillance workflows use the current unit-of-trade attributes.