(MENAFN- GlobeNewsWire - Nasdaq)
New York, NY, June 23, 2022 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), , a Nevada corporation, announced today that that it has written to market makers requesting that they review their market making activity in GTII's shares.
In particular, we informed them of our concerns with the general market making activity in GTII's shares, as it appears that certain market makers have failed to post regular or continuous proprietary quotations that are at or near the market on both sides and that are communicated and represented in a way that makes them widely accessible to investors and other broker-dealers. When market makers fail to meet this requirement, as well as other applicable requirements, it can bring into question whether they are engaging in“bona fide market making” and can avail themselves to any“locate” exemptions afforded to bona fide market makers when executing short sales.
The Company is hopeful that each market maker will promptly comply with the request to ensure an orderly market in GTII's shares.
About Global Tech Industries Group, Inc.: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here .
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Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Tags Global Tech Industries Group OTCQB: GTII publicly traded company Market Making Activity Nevada Corporation technologies
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