NEW YORK, Dec. 19, 2012 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Altisource Asset Management Corporation (OTCQX: AAMCV), a provider of asset management and corporate governance services, has chosen to trade on OTCQX® in connection with its spin-off from publicly-traded Altisource Portfolio Solutions S.A.
Altisource Asset Management Corporation will begin trading today on OTCQX U.S., a segment of the OTCQX marketplace reserved for high-quality U.S. companies that meet financial standards and provide timely news and disclosure to investors. Investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are glad that Altisource Asset Management has chosen to trade on OTCQX, the most prestigious OTC marketplace," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Companies trading on OTCQX U.S. demonstrate their commitment to providing superior information to investors and maintaining the highest quality standards."
"We are proud to join OTCQX," said Ashish Pandey, the Chief Executive Officer of Altisource Asset Management. "The OTCQX marketplace enables us to provide our investors transparent trading and easy access to information to better understand and value our securities."
Kramer Levin Naftalis & Frankel LLP will serve as Altisource Asset Management's Designated Advisor for Disclosure ("DAD") on OTCQX, responsible for sponsoring qualified companies and providing professional guidance on OTCQX requirements and U.S. securities laws.
Altisource Asset Management was formed to provide portfolio management and corporate governance services to Real-Estate Investment Trusts ("REITS") and other real-estate portfolio-driven entities. AAMC is focused on providing scalable investment strategies and governance services for its clients by leveraging the significant industry expertise of its management team. Its initial principal client is Altisource Residential Corporation, a REIT formed to acquire and own single family rental assets through the purchase of sub-performing and non-performing mortgages.
Altisource Asset Management trades in the United States on OTCQX under the symbol "AAMCV" and will trade under the symbol "AAMC" upon completion of the spin-off.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX® - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC registered ATS.
SOURCE OTC Markets Group Inc.