Glossary A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | 1 | 3 | 4 | 5 Definitions by InvestorWords.com   What is...? over-the-counter (OTC) A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, broker/dealers negotiate directly with one another over computer networks and by phone, and their activities are monitored by the NASD. also called unlisted. Also, the computer and phone system through which over the counter (as well as listed) securities are traded. see also OTC Bulletin Board, auction market, Autex, Forex, intrastate offering, make a market, market price, NASDAQ, National Market System, National Securities Trade Association, off-board, outside broker, outside market, Pink Sheets, spread, stock market, street broker, third market. Copyright ©2009 by InvestorGuide.com. All Rights Reserved.