Trip Advisor

Our Three Tiered Marketplaces

Our Open, Transparent and Connected financial marketplaces provide investors with the information necessary to intelligently analyze, value and trade 10,000 U.S. and global securities through the broker of their choice.

To create clarity in the investment process, we organize these securities into three tiered marketplaces - OTCQX, OTCQB and OTC Pink - based on the quality and quantity of information the companies make available.

      
The Best Marketplace

The OTCQX® best marketplace is for established investor-focused U.S. and global companies. To qualify for the OTCQX marketplace, companies must meet high financial standards, demonstrate compliance with U.S. securities laws, be current in their disclosure, and be sponsored by a professional third-party advisor. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.

       
The Venture Stage Marketplace

The OTCQB® venture stage marketplace is for early-stage and developing U.S. and international companies that are unable to qualify for OTCQX. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. These standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors. However, since there are no minimum financial standards other than a $0.01 bid test, companies will vary in their financial strength.

       
The Open Marketplace

The OTC Pink® marketplace offers trading in a wide spectrum of equity securities through any broker. This marketplace is for all types of companies that are there by reasons of default, distress or design, which is why they are further sub-categorized by the levels of information that they provide.

Current Information

Companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines are designated as OTC Pink Current Information. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk. This category includes shell or development stage companies with little or no operations as well as companies without audited financials and as such should be considered extremely speculative by investors.

Limited Information

Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant toOTC Pink Basic Disclosure Guidelines. Companies in this category have limited financial information not older than six months available on the OTC Disclosure & News Service or have made a filing on the SEC's EDGAR system in the previous six months.

No Information

Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. Companies in this category do not make Current Information available via OTC Markets Group's News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.

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