Starting with today's editions, more than 200 corporation stocks will be added to the national table of over-the-counter issues to reflect new criteria for listing developed by the National Association of Securities Dealers.
Instead of a previous table of 1,550 OTC stocks that were the most actively traded in terms of dollar volume, the NASD has compiled a new list of 1,789 stocks -- based on such criteria as earnings, number of publicly held shares, market value and net worth. The table will grow as other companies qualify.
The new requirements have led to a wholesale realignment of where OTC stocks are quoted. For example, the new national table, on Page E13, includes 660 firms that previously were not eligible, such as Allied Van Lines and Hyatt International. But another 379 firms that were included in the previous national table have been deleted.
According to officials of the Washington-based NASD, an industry self-regulatory group for the OTC market and the source of quotations through its automated computer system, some D.C. area firms previously listed in a separate regional securities table will qualify for national listing. At the same time, a number of area stocks previously quoted in the national table may have been removed. After a period of assessment by local NASD officials, some of these stocks may be added to the regional securities listing.