NEW YORK | Thu Nov 7, 2013 1:58pm EST
[size=18]NEW YORK (Reuters) - The Financial Industry Regulatory Authority halted trading in, more than 10,000 over-the-counter "penny stocks", on Thursday, the OTC Bulletin Board said.
The halt began at 11:25 a.m. EST (1625 GMT) and was due to a connectivity issue, said an OTC. Markets Group spokeswoman. Investors cannot trade those securities through the market, bilaterally or on any other market.
Trading in Nasdaq- and New York Stock exchange-listed securities is not affected.
Issues halted include about 1,400 American Depositary Receipts and 1,400 foreign ordinaries. Roughly $8 of every $10 traded is in ADRs and ordinary shares of international exchange-listed companies.
"FINRA has determined that halting quoting and trading in all OTC Equity Securities is appropriate to protect investors and ensure a fair and orderly marketplace," OTC said on its web site.
Many of the securities on the over-the-counter market are illiquid, trading infrequently and mostly under $1.
FINRA declined to comment.
(Reporting Nomiyama)by Rodrigo Campos and John McCrank; Editing by Chizu