Replies to post #315 on Grey Market or Grey Sheet Q & A

[Ecomike]

Here is what I found so far:

Grey Market

There are no market makers in this security. It is not listed,
traded or quoted on any stock exchange, the FINRA BB or
OTC Link. Trades in grey market stocks are reported by
broker-dealers to their Self-Regulatory Organization (SRO)
and the SRO distributes the trade data to market data vendors
and financial websites so investors can track price and
volume. Since grey market securities are not traded or quoted
on an exchange or interdealer quotation system, investor's
bids and offers are not collected in a central spot so market
transparency is diminished and Best Execution of orders is
difficult.


Expert Market

Private market to serve broker-dealer pricing and best
execution needs in securities that are restricted from public
quoting or trading. Restrictions can be based on issuer
requirements, security attributes, investor accreditation and/or
suitability risks.

[janice shell]

It's a new OTC Markets invention, and not, in my view, a good one. You can see here that they added it in April:

https://www.otcmarkets.com/files/OTC%20Markets%20Promotion%20Data%20Specification%20-%20v1.1.pdf

They've added a definition to their glossary:

The Expert Market is a private market to serve broker-dealer pricing and best execution needs in securities that are restricted from public quoting or trading. Restrictions can be based on issuer requirements, security attributes, investor accreditation and/or suitability risks.

Expert Market

Basically, it's just another way to say "Unsolicited Trades". But they seem to have expanded the category to include quite a few additional issuers. One of the things about it that's unfortunate is that the word "expert" suggests something special and desirable. But being on the Expert Market is neither.

There was a good deal of discussion about it on the DD board a couple of months ago. If you do a keyword search for "expert" on the board, they'll turn up.