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Threshold Securities - NASDAQ

by Brian Brown, 5297 days ago
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A stock is considered to be a threshold security when it has an aggregate fail to deliver position for five consecutive settlement days at a registered clearing agency that total 10 000 shares or more and when this volume is at least equal to 0.5% of the stock total shares outstanding. Fails to deliver historical positions can be downloaded here Fails to deliver - Reported by the SEC or here Fails to deliver.

Only securities whose issuers are registered with the Commission can be threshold securities. The majority of Pink Sheets listed companies are not registered and therefore cannot be threshold securities. In fact, the reason why non-registered companies cannot be classified as threshold securities if they meet the previous rules is because non-registered companies are not required to report their total number of outstanding shares, consequently SROs doesn't have a reliable total outstanding shares number to determine whether the security meet the definition of threshold security.

The NASDAQ exchange releases a daily list of threshold securities of NASDAQ, OTC Bulletin Board (OTCBB) and other OTC stocks. This historical data of threshold securities is downloaded by this item and saved in a custom database "threshold_nasdaq".

The database contains the following fields:
Market: Sets the market category of the company. The available values are NASDAQ Global Select Market (Q), NASDAQ Global Market (G), NASDAQ Capital Market (S), OTC Bulletin Board - OTCBB (U) and Other-OTC (u).
Threshold: This field is always equal to one. It can be used by the trading software's programming language to determine whether a stock is a threshold security in a particular date.
Flag: This field is equal to one if the security is subject to mandatory close-out requirements outlined in the SEC Regulation SHO.
Rule3210: This field is equal to one if the security is subject to mandatory close-out requirement of the NASD Rule 3210.


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Type: Download Script

Object ID: 426


Country:
United States

Market: Stock Market

Style:
Fundamental Analysis

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