NEW YORK, April 22, 2020 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, is pleased to announce that Canadian companies traded on OTCQX and OTCQB are now providing reliable current share data through their registered transfer agents directly to OTC Markets. Nine transfer agents serving Canadian companies recently joined the Transfer Agents Verified Shares Program bringing the total number of participating transfer agents to 45, representing over 1,200 U.S. and Canadian securities traded on OTCQX and OTCQB markets.
"This innovative process allows OTCQX and OTCQB companies to provide their shareholders with more trusted and timely information in an efficient manner," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "By automating the process with regulated transfer agents, investor interests are better served without creating duplicative compliance burdens on management teams."
Recent updates to OTCQX Rules and OTCQB Standards require Canadian companies, and those with a primary listing on a Canadian exchange, to retain a transfer agent that participates in this program. All U.S. and Canadian OTCQX and OTCQB companies must authorize their Transfer Agent to provide to OTC Markets Group information related to the Company's securities, including authorized and outstanding shares.
Newly Participating Transfer Agents serving Canadian issuers include:
- Alliance Trust Company
- AST Trust Company Canada
- Capital Transfer Agency, Inc.
- Computershare Canada
- National Securities Administrators Ltd.
- Odyssey Trust Company
- Olympia Trust Company
- Reliable Stock Transfer
- TSX Trust
"We are excited to extend our Transfer Agent Verified Shares Program to include Canadian Transfer Agents," said Liz Heese, Executive Vice President of Issuer and Information Services at OTC Markets Group. "This has been a three-year project targeted at improving the quality and timeliness of share data for investors in OTCQX and OTCQB companies."
Share data provided by transfer agents is displayed on www.otcmarkets.com alongside a "Verified" logo, indicating the information is reliable and trustworthy. This data is also disseminated through OTC Markets Group's market data feeds and is widely available to investors and broker dealers.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS and OTC Link ECN, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS and OTC Link ECN are SEC regulated ATSs, operated by OTC Link LLC, member FINRA/SIPC.
OTC Markets Group Inc., +1 (212) 896-4428, [email protected]
SOURCE OTC Markets Group Inc.