OTC Markets Group uses cookies and similar technologies to help us understand how you use our websites, as further disclosed in our Privacy Policy. Our Terms of Service contain important information including restrictions on your use of our websites. By clicking “Accept”, or by continuing to use our websites, you consent to the use of cookies and agree to the terms of the OTC Markets Group Privacy Policy and Terms of Service.
OTC Link Services
OVERVIEW
OTC Link provides broker-dealer subscribers with a range of tools to access the OTC markets and compliment their firm's trading strategies.
TRADING TOOLS AND PRODUCTS
Allows subscribing broker-dealers to view and publish quotes and negotiate trades in OTCQX®, OTCQB®, OTCID® and Pink Limited Information® securities on our SEC-registered Alternative Trading System, OTC Link® ATS, an interdealer quotation and trade messaging system.
Expands the depth of liquidity in OTC Securities by combining the Broker-Dealer Network model with Anonymous, Auto-Execution functionality.
Offers a fully attributable matching engine model, that allows for the distribution of depth-of-book market data.
Learn more about accessing NQB Market Data.
PRODUCT COMPARISON
OTC Link ATS | OTC Link ECN (OTCX)
| OTC LINK NQB (OTCN)
|
Subscription based pricing | Maker/Taker pricing model | Maker/Taker pricing model |
Market Participant quoting and messaging | Matching engine / Centralized limit order book | Matching engine / Centralized limit order book |
Negotiated market
| Auto-ex | Auto-ex |
Quote attribution | Fully anonymous (from quoting through entire trading lifecycle) | Attribution in quote feed |
All trades reported to ORF by dealers | All trades reported to ORF by ECN | All trades reported to ORF by NQB |
Price priority, but No Trade through rule | Price / time priority | Price / time priority |
Bilateral (subscriber to subscriber messaging) or MAX orders | Dark order functionality, Limit, primary peg, midpoint peg, reserve, hidden | Limit, primary peg, reserve |
Dealer sets Quote access fee | Tiered Maker/Taker pricing model | Tiered Maker/Taker pricing model |
Fully attributable messaging | Anonymous order routing | Attributable orders, Depth of book feed (Market Data) |
