OTC Markets Group, a United States-based company, operates three distinct markets for listed securities. It generates revenue primarily through broker-dealer subscriptions and market data, and also provides corporate services to enhance disclosure and investor engagement.

OTC’s origins trace back to 2000, following the spin-off of the Pink Sheets from the National Quotation Bureau. Famously depicted in The Wolf of Wall Street, the Pink Sheets were historically associated with speculative companies subject to minimal regulatory oversight.

Under the leadership of Cromwell Coulson, the principal owner of OTC Markets, the platform was transitioned to an electronic format. Coulson introduced a tiered market structure, including OTCQB, which caters to growth companies meeting minimum reporting standards, and OTCQX, the highest tier, for established companies adhering to more rigorous disclosure requirements.