OTCX is the Market Participant ID (MPID) for OTC Link ECN.
Can individual investors directly access the OTC Link ECN?
No. The ECN is only available to registered broker-dealers that subscribe to OTC Link ECN, either through OTC Dealer or various connectivity providers.
Why is OTCX now present in Real-Time Level 2 Quote Montages?
Broker-dealer orders that aren’t matched on OTC Link ECN are routed or displayed as quotes on OTC Link ATS using the MPID OTCX.
Does OTC Link ECN have a position in the stocks traded under the OTCX MPID?
No. OTCX is used to display broker-dealer quotes as described above. OTC Link ECN has no proprietary trading, is not a market maker and does not hold a position in the securities represented using the MPID OTCX.
As for the "U"....
OTCX showing U indicates an Unpriced quote. Unpriced quotes are an indication of interest (IOI) in a security used when a trader does not wish to show a price or size. Unpriced, name-only quotes are also used as the other side of a one-sided, priced quote. Unpriced bids never have a quote size associated with them: