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From Paper to P.C.s

Traders Magazine, May 2003

Peter Chapman

Pink Sheets LLC began life in 1913 as the National Quotation Bureau, a publisher of securities prices. Until 1971, when Nasdaq came into existence, the pages of the Pinks were the only medium for distributing quotes of over-the-counter securities. The 300-page bound volume carried prices for about 11,000 securities on a daily basis. Nasdaq eliminated much of the Pink Sheets raison d'etre, but it was not until 1990 when Pink Sheets came close to irrelevancy. That year the OTCBB was born. OTCBB broadcasted in "real-time" the quotes of about 4,400 Pink Sheets securities. Securities exclusive to Pink Sheets then declined to about 1,000.

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