OTC refers to all OTC markets. The New Third Board refers to the agency share system, which belongs to the share transfer place of unlisted joint-stock companies. Simply put, it is affiliation, and the New Third Board is just a market segment in OTC.
Over-the-counter trading has no fixed place, no prescribed members, no strictly controllable rules and regulations, no prescribed trading products and restrictions, mainly one-on-one trading by counterparties through private consultation. Over-the-counter transactions are mainly in the financial industry, especially in countries with developed financial institutions such as banks.
The more influential OTC markets in the world are Nasdaq, OTC listing (OTC CBB) and Pink Sheets. In America. British Alternative Investment Market (AIM); France OTC market (CMF) and Paris emerging market (new market); South Korea's OTC market and China's inter-bank bond market.
Extended data:
The characteristics of OTC are:
1, the transaction is scattered.
This trading market activity is not organized by one or several unified institutions, but by many independent securities companies. Therefore, these trading activities are scattered in various securities companies and there is no centralized trading place. Securities companies are organizers and direct participants in the counter market. They organize market activities by participating in market transactions and provide or create a securities transfer market.
2. Transaction agreement
Counter trading is the transfer of securities under the bank, which is carried out in the process of negotiation and bargaining between securities companies and investors. Participants in each transaction are both securities companies and investors. The transfer price of each security in the OTC market is generally quoted by the securities company, which is formed through negotiation and adjustment according to whether investors can accept it.
Baidu encyclopedia -OTC market