Tonto,some interesting quotes from a book I have..
"Any publicly traded stock,bond,etc. which is not listed on one of the exchanges would trade OTC"
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"Many exchange traded securities are also traded on the OTC. This is called trading in the "third market". OTC is known as the "second market",exchanges being the "first market"
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"Stocks that are traded OTC and have a ticker symbol for electronic quotation purposes are said to be traded on the NASDAQ"
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"Pink Sheets. Dailey quotations can be found in the; National Quotation Bureau listings. This listing,commonly known as the Pink Sheets,is a reference source for the securities industry, and is a complete listing of every security traded on the OTC market. Included with the name of the stock,is a list of dealers who trade the stock,and its quote.Contrary to the belief of some investors,
the Pinks list all OTC stock,not just the lower priced securities or stocks which do not have a ticker symbol. Every OTC stock is a Pink sheet stock.. The quotes on these Pink sheet stocks are subject and not firm.A dealer must be prepared to quote a firm price for at least 100 shares of the quoted stock."
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"OTC Bulletin Board Servise (OTCBB).OTCBB as launched in June 1 1990,by NASDAQ, allows market makers to enter,update,and display their proprietary quotations in securities on a real-time basis. These securities must not be listed on the NASDAQ,or any other registered national exchanges in the U.S. The quotations are voluntary but can include bid and/or offer,an unpriced indication of interest,or a bid or offer accompanied by a modifier to reflect unsolicited customer interest. All domestic bids and/or offers must be firm up to the minimun quotation size. All foreign equity is non-firm"
Hope I didn't bore anybody..DD(excuse any spelling errors-please<g>) |
