Market data vendors offer securities professionals and investors a window into activity on the OTC Bulletin Board® (OTCBB). Vendors provide direct access to quotation and trade data for OTCBB securities via dedicated computer terminals, data feeds, pagers, and the Internet. In addition, vendors offer a variety of value-added services such as market news, historical charting, company profiles, and analytical research to their subscribers.
A number of vendors provide real-time or delayed data for OTCBB securities. For your convenience, the OTCBB has provided links to vendors that provide real-time or delayed data. An overview of the data elements and display guidelines for OTCBB securities is outlined below.
OTCBB data is disseminated as part of the Nasdaq Level 1/Last Sale ServiceSM. For OTCBB securities, Nasdaq® disseminates the following data elements:
Please note that vendors may not carry all of these data elements. Information on Nasdaq Market Data Services, including Level 1/Last Sale Service, is available on the Nasdaq TraderSM Web site. Questions about Nasdaq data feeds should be directed to Trading and Market Services at (202) 728-8480.
- Dynamic Market Maker quotations for domestic, foreign, and American Depositary Receipts (ADRs) listed on the OTCBB.
- Indicative Market Maker quotations for Limited Partnerships (or Direct Participation Programs) listed on the OTCBB.
- Inside Quotations (Best Bid and Offer) for OTCBB issues with at least two active Market Makers quoting both sides of the market.
- Dynamic Trade Reports for domestic, foreign, and ADRs listed on the OTCBB.
- End-of-Day Trade Summary (Daily High/Low/Close Prices) for all OTCBB issues.
To become an authorized distributor of OTCBB data, a vendor must execute the Nasdaq Vendor Agreement and submit an acceptable system description. To help securities professionals and investors distinguish OTCBB securities, the following vendor display guidelines were established:
For your convenience, The OTCBB has compiled a list of authorized real-time and delayed vendors that adhere to the display guidelines outlined above. For additional information about Nasdaq Market Data Services, please visit the Nasdaq Trader Web site. Questions about Nasdaq data services should be directed to Nasdaq Data Products at (301) 978-5307.
- Vendors must clearly differentiate OTCBB securities by displaying a unique and recognizable market center identifier. This requirement is designed to help investors clearly distinguish securities traded on the OTCBB from securities traded on The Nasdaq Stock MarketSM and other equity markets, and from securities traded via the Pink Sheets.
- Vendors must post a prominent disclaimer (e.g., "Quotations are delayed at least 15 minutes") on any screen containing delayed quotation information for OTCBB securities.
- Vendors must clearly differentiate firm from indicative quote information for OTCBB issues. Any quotation information for OTCBB Limited Partnerships must be marked as indicative or non-firm.