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How To Get Traded
To become an OTCQX®, OTCQB® or OTCIDTM company, the company's securities must be the subject of broker-dealer quotes on OTC Link® ATS. OTC Link® ATS is an SEC-registered Alternative Trading System (ATS), operated by OTC Link LLC. OTC Link LLC is a FINRA member broker-dealer wholly owned by OTC Markets Group.
Unlike on stock exchanges, companies with securities quoted on OTC Link ATS do not list their own stock for trading. Rather, broker-dealers begin quoting new securities by submitting a Form 211 with the Financial Industry Regulatory Authority (FINRA), and getting FINRA approval. In some cases, there may be an exemption available that permits a broker-dealer to begin quoting a stock without filing a Form 211. Generally, this happens when the broker-dealer is already quoting the stock on another platform or if the broker-dealer is only representing an unsolicited customer order.
Only SEC-registered and FINRA-approved broker-dealers may quote securities on OTC Link® ATS. Only one broker-dealer quotation is required to start trading. Not all broker-dealers are willing to sponsor a new security and file a Form 211. Many broker-dealers will begin to quote a security only after another firm does the paperwork to be quoted on OTC Link® ATS.
Current financial information must be submitted with the Form 211. FINRA rules do not require that financial statements are audited, but they should be prepared in accordance with GAAP or, for international companies, in accordance with their home country's accounting standards.
Qualification for the OTCQX and OTCQB markets requires additional disclosure from companies:
At the time of initial quotation in public markets
At any time corporate insiders or other affiliates of the issuer are offering, buying or selling the company's securities off-exchange
During any period that the company or affiliates of the company are directly or indirectly engaged in promotional activities having the effect of encouraging trading of the company's securities off-exchange
At the time securities initially sold in a private placement become freely tradable in the OTC equities market
If any of the four above situations are occurring, companies subject to Section 13 or 15(d) of the Securities Exchange Act of 1934 must be current in their reporting obligations to the SEC.
The OTCID Basic Market is for companies that publish baseline information, rather than meet the higher qualifications of our premium markets. These companies provide ongoing financial disclosure and a management certification, and verify their company profile for U.S. investors, brokers and regulators.
OTC Markets Group provides the OTC Disclosure & News Service for non-SEC reporting companies to make their information publicly available.
For more information on this service please see the OTC Disclosure & News Section.
Companies do not pay fees to be quoted on OTC Link® ATS, but may elect to upgrade to the OTCQX, OTCQB or OTCID markets, where there are applicable fees:
OTCQX:
U.S. Companies & Community Banks
OTCQB:
