OTC Markets Group Inc. today announced the official launch of OTC Overnight.
A select group of active securities are now available for trading Sunday through Thursday between 8 PM and 4 AM Eastern Time.
The company first announced OTC Overnight in May, noting proposed market hours and the type of securities to be eligible at launch. This month’s launch comes at a time of increasing client demand for OTC Markets’ unique set of global securities priced in U.S. Dollars.
OTC Overnight provides trading capabilities that will significantly expand market accessibility, transparency, and comprehensive data coverage for the OTC markets. By using existing infrastructure and connectivity, broker-dealer subscribers can efficiently add overnight trading capabilities to meet their customer demand.
With OTC Overnight trading and reporting functionality now live on OTC Link NQB, an SEC-regulated Alternative Trading System, a select group of active securities are now eligible for trading in overnight sessions by broker-dealer subscribers in U.S. dollars. This includes liquid ADRs of global companies such as adidas, Heineken and Roche Holding, as well as ordinary shares of well-known companies like Bombardier and Air Canada Inc.
While the initial launch applies to a limited group of securities, the Company plans to expand the offering to additional securities over the near term.
Matt Fuchs, Executive Vice President of Market Data at OTC Markets Group, commented:
“We are excited to bring this innovative offering to fruition. OTC Overnight will provide a transparent, competitive, and cost-effective market to support the growing needs of investors, broker-dealers, and issuers. It is an important step in furthering our company’s mission to create better informed and more efficient markets.”
