      The reason for the difference in volatility lies in the way securitiesare traded on the various exchanges. Nasdaq over the counter securities aretraded in a market maker or "dealer" market. Depending upon the number ofmarket makers trading individual securities, the volatility will differ.The more market makers in a stock, the higher the potential fordisagreement, and thus the more whipsawing of price. Securities listed onthe AMEX and NYSE are traded in a specialist or auction market. Because thespecialist's job is to "maintain a fair and orderly market" (as defined bythe New York and American stock exchanges), he or she "smoothes out" theprice of the stock by more efficiently matching up buyers and sellers andproviding personal liquidity in the stock at various price levels. Althoughthere are exceptions to the rule, the aforementioned has held true over thepast decade or so on a top down or "overall" level.