OTC Markets Group Inc. (OTCQX:OTCM) said it has added South Carolina and Puerto Rico to its Blue Sky Data map, the 38th state and first territory to recognize its premium markets for secondary trading.
These latest additions reflect the team's commitment to working with regulators to enhance the value OTCQX and OTCQB provide to public companies, broker-dealers, and investors, the group said.
Following the recent acquisition and integration of Blue Sky Data Corp into its systems, OTC Markets Group said it now offers a fully integrated product suite that provides a holistic, comprehensive view of Blue Sky secondary trading compliance.
Gaining recognition from additional states and territories further enhances the value of this data and the market, it added.
State Blue Sky laws help investors make informed decisions by mandating that companies disclose accurate and current information when offering or marketing securities. Regulators and brokers across the country rely on disclosure-based "manual exemptions" from individual state securities laws.
Forty-four US states and jurisdictions maintain manual exemptions, which generally allow for secondary trading of qualifying companies as long as certain key information about the company is published in a nationally recognized securities manual or its electronic equivalent.
OTC Markets Group has achieved secondary trading exemptions in a majority of US states by supporting recognition of the OTCQX and OTCQB markets as "recognized securities manuals."
OTC Markets Group operates regulated markets for trading 12,000 US and international securities. Its data-driven disclosure standards form the foundation of our three public markets: OTCQX Best Market, OTCQB Venture Market and Pink Open Market.
The group's OTC Link Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Its innovative model offers companies more efficient access to the US financial markets.
Contact the author at jon.hopkins@proactiveinvestors.com