Secondary trading on the Platform follows Rule 144, meaning that all transactions are conducted between two parties without a third party that provides continuous bid and ask quotations, a.k.a. as market makers. This has several important implications:
- Ability to sell their securities depends on the availability of buyers willing to purchase these securities.
- Price received or paid for the securities will depend on the willingness of transacting parties to agree on this price.
- Each order is posted separately, i.e. orders in the same security will not be aggregated. Each order must be individually completed.
- If a Buyer selects more than one Seller of the same security the trade selected first will be executed first and in chronologic order from there. Orders are executed individually and in the sequence of the Buyer’s selection.
IOICM reserves the right to monitor all trading activity on the IOICM Platform to ensure an orderly market and compliance with all regulatory requirements, including prohibition on market making unless registered appropriately with FINRA and SEC. Suspicious trading activity will be thoroughly investigated, and if found to violate US securities laws or IOICM policy, trades will be cancelled and affected accounts will be prohibited from trading.
