NEW YORK, May 21, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM) today celebrates the one-year anniversary of the launch of OTCQX® for Banks, an expansion of the OTCQX Best Marketplace for established, investor-focused U.S. community and regional banks.
Launched on May 21, 2014, OTCQX for Banks is designed to increase the visibility of small financial institutions in the public markets through transparent trading, wide distribution of their news and financial disclosure and dedicated capital market support. To qualify, banks can leverage their existing regulatory reporting standard. They must also meet high financial standards, be current in their reporting and appoint a Corporate Broker, a FINRA-member broker-dealer specializing in trading in and advising banks, to serve as their advisor.
Today, 69 banks and bank holding companies from 24 U.S. states are traded on the OTCQX marketplace, including one bank that de-listed from the NASDAQ Stock Market to join OTCQX and three private banks that "went public" on OTCQX. These banks have an aggregate market capitalization of $4.05 billion and combined assets of more than $38 billion. In addition, OTC Markets Group has approved 10 Corporate Brokers to serve as advisors for banks on OTCQX: Boenning & Scattergood, Inc., D.A. Davidson & Co., FIG Partners LLC, Hovde Group LLC, Keefe Bruyette and Woods, Inc., Monroe Financial Partners Inc., Raymond James & Associates, Inc., Sandler O'Neill + Partners, L.P., StockCross Financial Services, Inc. and Wedbush Securities.
"We are grateful for the strong support of OTCQX for Banks in its first year," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "The engagement of our OTCQX Founding Banks and advice of Corporate Brokers, connected through technology and transparency, have created a premium public market with tailored standards that expand information availability, improve secondary trading and increase visibility of community bank shares.
"We look forward to further supporting the information and liquidity needs of bank investors and fostering the growth of well-managed community banks in the public markets," continued Coulson.
To see a one-year review of key statistics and highlights for OTCQX for Banks, visit http://www.otcmarkets.com/content/doc/OTCQX-for-Banks/A-One-Year-Review.
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 inform investors of opportunities and risks: the OTCQX® Best Marketplace; the OTCQB® Venture Marketplace; and the OTC Pink® 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 regulated ATS.
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, email@example.com
SOURCE OTC Markets Group Inc.