KUALA LUMPUR, Sept 13 (Bernama) -- OTC Markets Group Inc has officially launched over-the-counter (OTC) Overnight, enabling a select group of active securities to be traded from Sunday through Thursday.
“OTC Overnight will provide a transparent, competitive, and cost-effective market to support the growing needs of investors, broker-dealers, and issuers.
“It is an important step in furthering our company’s mission to create better informed and more efficient markets,” said OTC Markets Group Executive Vice President of Market Data, Matt Fuchs in a statement.
OTC Overnight provides trading capabilities that will significantly expand market accessibility, transparency, and comprehensive data coverage by using existing infrastructure and connectivity, allowing broker-dealer subscribers to efficiently meet their customer demand.
With OTC Overnight trading and reporting functionality now live on OTC Link NQB, an Securities and Exchange Commission (SEC)-regulated Alternative Trading System, a select group of active securities are now eligible for trading in overnight sessions by broker-dealer subscribers in the US dollars.
While the initial launch applies to a limited group of securities, the operator of regulated financial markets for over 12,000 United States (US) and global securities, plans to expand the offering to additional securities over the near term.
The company first announced OTC Overnight in May, noting proposed market hours and the type of securities to be eligible at launch.
OTC Overnight signifies an evolution of the company’s service, launched at a critical moment as innovative broker-dealers seek to enhance the trading experience for investors in the US and Asia.
-- BERNAMA
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