unlisted securities market

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Over-the-Counter Market

Describing a security or trade that does not occur on an exchange. Very often, the OTC market includes securities that are very small and do not trade on an exchange because they do not meet market capitalization requirements. OTC securities may theoretically be traded informally (one may stand on a street corner and sell his/her stocks), but the term usually refers to securities traded through a dealer network.

unlisted securities market (USM)

a market for corporate STOCKS and SHARES that have not obtained a full STOCK MARKET listing. See ALTERNATIVE INVESTMENT MARKET.