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OTC Markets
Totals
Securities
12,306
Dollar Vol
$2.0B
Share Vol
4B
Trades
367,183

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FAQs

Real-Time Data Products

How does OTC Markets Group license real-time data?

OTC Markets Group has several licensing options for real-time data including: enterprise licenses, subscriber (per user) licenses, non-display (system) licenses and derived data licenses. Level 1 and Level 2 data is available for all licenses. View all our licensing options.

What does Level 1 and Level 2 data mean?

Level 1 and Level 2 describe specific data sets within the OTC Markets Group real-time data feed. They also are entitlements within our licensing and fee structure. Level 1 data refers to the best (highest) bid and best (lowest) ask (or offer) within the OTC Link® ATS quotation system for a respective security. Level 1 is also referred to as the inside price or BBO (best bid/offer). Level 2 data contains all the individual market participant quotes for all securities. Level 2 data is often called depth of book. OTC Markets Group customers entitled to Level 2 data are also entitled to Level 1 data at no additional charge.

How does OTC Markets Group deliver real-time data?

OTC Markets Group delivers real-time data through a number of different channels. The majority of end-users consume our data through a data distributor (e.g. Bloomberg, Thomson, Interactive Data). A full list of our distributors is available on our Market Data Vendor page. We also deliver data directly to distributors and subscribers via direct connection and extranet providers.

Do you have non-display licenses?

Yes — we offer non-display licenses for use in internal business processes (order routing, risk assessment, algorithmic trading). Licenses are available for Level 1 and Level 2 data. More information on non-display licenses

Do you have derived data licenses?

Yes — we offer Level 1 and Level 2 internal and external use derived data licenses. More information on derived data licenses

What are the fees associated with OTC Markets Group's real-time data?

Our access and license fees are listed in our Market Data Fee Schedule.

Do you license real-time trade data for your securities?

Yes — we license trade data for trades executed via the OTC Link® ATS. This data is included in our Level 1 and Level 2 licenses at no additional charge. OTC Link® ATS trade data represents approximately 40% of the trades executed in OTCQX®, OTCQB®, OTCIDTM and Pink LimitedTM equities. Complete trade data in these securities is distributed by FINRA via the TDDS data feed. More information on OTC Link Trade Data

Do you offer an OTC News Feed?

Yes — we offer a Financial Report and News RSS feed on the securities that trade on our markets (http://www.otcmarkets.com/syndicate/rss.xml). Please contact OTC Markets Group if you would like to distribute content included in our feed. An agreement with OTC Markets Group is required to distribute our RSS Feed.

Pricing / Reference Data Products

I am looking for an OTC security master. Do you have such a product?

Yes — our OTC Security Data File provides a complete OTC security master that includes Caveat Emptor, OTC Market and Shares Outstanding information. More information on the OTC Security Data File

How do you license end of day pricing data?

OTC Markets Group has two types of licenses for OTCQX, OTCQB, OTCID and Pink Limited equity closing bid and ask prices: a Valuation license and an Information, Research and Analysis license. The type of firm and the services they provide will determine the license for which they are eligible. More information on End of Day Pricing licensing

Do you have information on Companies? Officers? Directors?

Yes — this information is available in our OTC Company Data File. More information on the OTC Company Data File

Which products contain OTC Market tier data?

OTC Market data (OTCQX, OTCQB, OTCID and Pink Limited) is contained in our End of Day Pricing, OTC Security Data, Compliance Data and Compliance Analytics products. Market tier data is also included in our real-time data feed.

Which products contain Caveat Emptor data?

Caveat Emptor data is contained in our End of Day Pricing, OTC Security Data, Compliance Data and Compliance Analytics products. Caveat Emptor data is also included in our real-time data feed.

Do you have a tick by tick trade data product?

No — OTC Markets Group does not have a complete OTC trade data set product. This information is distributed by FINRA in the TDDS feed. We do distribute data for OTC Link trades on our OTC Link Trade Channel within the Multicast Data Feed.

Do you have company financial information?

Yes — information on companies that make disclosure available through our OTC Disclosure and News Service is available within the Financials section of individual security pages. Through our partnership with Donnelly Financial this data is also available via APIs and files. More information on OTC Financials Data

Do you have a Corporate Actions data product?

No — we do not offer a separate Corporate Actions product; however Corporate Actions information may be found on our RSS Feed. Corporate Action information pertaining to name changes and splits is available in our Compliance products.

Compliance Data Products

What is the difference between the Compliance Data and Compliance Analytics Products?

The Compliance Analytics product offers more data points than the Compliance Data file and it also provides a comprehensive 'risk score' for each security based on 16 key compliance parameters (e.g. Penny Stock status, Caveat Emptor, Shell Status). View details on the Compliance Data and Compliance Analytics product.

Which products provide Penny Stock status?

The Compliance Data and the Compliance Analytics products both provide Penny Stock status and relevant source data (e.g. Net Tangible Assets) based on the SEC definition. View details on the Compliance Data and Compliance Analytics product.

The Small Cap Compliance also contains Penny Stock status information but ignores the Exchange exemption so users can note the securities that would be considered a Penny Stock if not listed on an exchange. View details on the Small Cap Compliance product.

Do you offer a tick by tick quote data product?

Yes — our OTC Quote History product includes all quote activity within the OTC Link quotation system. More information on OTC Quote History

Developer/Connectivity Questions

What are the connectivity options for OTC Markets real-time data?

Connectivity to OTC Markets is available via our extranet partners and through direct connection. For details on our connectivity options, please view our Connectivity Guide.

Where can I find specifications for real-time OTC Markets data?

Complete details may be found in the Multi-cast Data Feed Specification.

Where can I find details on OTC Markets networking configuration for real-time data feeds?

Details regarding multi-cast groups, IPs, ports and an overview of the network topology are available in the Multi-cast Groups document.

How does the OTC Markets real-time data feed differ from other exchange/market feeds?

In most ways the OTC Markets real-time data feed is very similar to feed products from other markets and exchangers; however, there are a few key differences to consider. The first is that the OTC market (and the OTC Link system) is a quote driven system and not an order driven system. A market participant quote may represent 1 order, multiple orders or the firm's proprietary interest. There is a 1:1:1 relationship between market participant, securities and quotes — meaning that a market participant may only have one quote for a particular security at a point in time. The second is that OTC Link does not 'match' orders (or quotes) and automatically create executions. Executions are created by the messaging back and forth between participants. For more information on how the OTC market works, view our OTC 101 Section.

I do not see an Order message in your specification — is this an oversight?

No — the OTC market (and the OTC Link system) is a quote driven system and not an order driven system. There is no concept of an order message in our real-time data feed. View our real-time specification

What is the relationship between market participants, quotes and securities?

There is a 1:1:1 relationship between market participants, securities and quotes — meaning that a market participant may only have one quote for a particular security at a point in time.

What does the 'Open/Close' status for a quote mean?

The Open/Close status on a quote determines whether the quote is 'firm' under FINRA Rule 5220. Only Open quotes are firm. Closed quotes of any type should always sit below open quotes in the montage. Closed quotes may not be considered toward the inside (best bid or ask) prices.

I am seeing security and quote messages for listed (National Market System) securities. Is this correct?

Yes - listed equity securities and their respective quotes are sent out on the feed for regulatory reasons regarding delisting and piggyback eligibility (SEC Rule 15c2-11). Quotes for listed securities will be unpriced and there is no messaging/trading in listed securities currently via OTC Link.

Are feed handlers available for OTC Markets real-time data?

Yes — feed handlers for OTC Markets data are available from a number of data/software providers. For information regarding OTC Markets feed handlers, please contact us at marketdata@otcmarkets.com.

Are web service APIs available for OTC Markets real-time data?

Web service APIs for OTC Markets data are available from a number of 3rd party data providers. For more information, please see our Market Data Distributor List.

I was sent messages from your data feed logs. What is the message format?

Our data feed log message is pipe delimited. An example of a log message is:

26 Jun 2017 11:25:01,305|QuoteBookA|167099|7|11.25.01.296| 15.25.01.302|5044338|2|12081232|01001010|41470000|200|-30|GMT.2017.06.26.15.25.01.268

The message mapping is:

Column 1 — Log file time

Column 2 — Feed name

Column 3 — Packet sequence number

Column 4 — Messages in the packet

Column 5 — Packet send time

Column 6 — Packet capture time

Column 7 — Message sequence number

Column 8 — Message Type

Columns 9 + — Message specific data