OTCBB Glossary - O

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Over-the-Counter Equity Security (OTC Equity Security)  

FINRA Rule 6420(e) (Definitions) provides that an OTC Equity Security is any equity security that is not an "NMS stock" as that term is defined in Rule 600(b)(47) of SEC Regulation NMS; provided, however, that the term "OTC Equity Security" shall not include any Restricted Equity Security.


An interdealer quotation system for unlisted, over-the-counter securities. The OTC Bulletin Board or "OTCBB" allows Market Makers to display firm prices for domestic securities, foreign securities, and ADRs that can be updated on a real-time basis.  The OTCBB also permits the display of non-firm prices for DPPs  and unpriced indications of interest.


OTC securities that are not quoted on the OTCBB. Other-OTC securities may or may not be quoted on another interdealer quotation system, or IDQS.