The OTCBB (Over-The-Counter Bulletin Board) was an electronic trading service provided by the Financial Industry Regulatory Authority (FINRA) in the United States. It was a quotation system that displayed real-time quotes, last-sale prices, and volume information for over-the-counter (OTC) securities, including stocks and ADRs (American Depositary Receipts).
The OTCBB provided a platform for trading securities that were not listed on major stock exchanges, such as the New York Stock Exchange (NYSE) or NASDAQ. These securities were often smaller, emerging companies that did not meet the listing requirements of larger exchanges.
However, it’s important to note that the OTCBB was discontinued in 2014. After its closure, OTC securities continued to be traded on the OTC Markets Group’s platforms, which include the OTCQX, OTCQB, and Pink markets. These platforms provide electronic quotation services and trading for OTC securities.
The OTC markets, including the OTCQB and Pink markets, are considered less regulated than major exchanges and may have lower listing requirements and reporting standards. Investors should exercise caution and conduct thorough research when considering investments in OTC stocks, as they can be more volatile and carry additional risks compared to securities listed on major exchanges.