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While stocks listed on the over-the-counter bulletin board (OTCBB) and the Pink Sheets, a privately held daily quote service (not a stock exchange), are known to be lacking in SEC filings, liquidity, and easily obtainable financial information (some have been delisted from major exchanges so brokerages actually make customers sign additional forms recognizing the added risk if they choose to trade in this niche), they actually are fully audited. In the last few years, Pink OTC Markets Inc., which owns these quotation systems, has aimed to bring extended transparency to this little known niche through the introduction of OTCQX.

The OTCQX, now a few years old and with 55 stocks listed, is a premium area of Pink Sheets -- which is littered with over 9,000 companies, most of which are penny stocks that don't trade very many shares or very often -- that provides a new level of disclosure not required outside of any major stock exchange, such as the AMEX, NYSE, or NASDAQ.

Continue reading Credibility and transparency in the Pink Sheets market?

Credibility and transparency in the Pink Sheets market? originally appeared on BloggingStocks on Tue, 14 Apr 2009 11:10:00 EST. Please see our terms for use of feeds.

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