OTC Link

OTC Link LLC is a registered broker-dealer and alternative trading system (ATS) operator based in New York City. Founded in 2012, it is an indirect, wholly-owned subsidiary of OTC Markets Group, Inc. OTC Link specializes in facilitating over-the-counter (OTC) securities trading through its three distinct ATS platforms.
== History ==
OTC Link LLC was established in 2012 as a subsidiary of OTC Markets Group Inc., formerly known as Pink OTC Markets Inc. The company's creation was part of OTC Markets Group's strategy to modernize and expand its over-the-counter trading services.
Key milestones in OTC Link's history include:
# 2012: OTC Link LLC registered with the U.S. Securities and Exchange Commission (SEC) as a broker-dealer and launched its first alternative trading system, OTC Link ATS. This platform was designed to serve as a Qualified Interdealer Quotation System (IDQS) for OTC securities.
# 2017: The company expanded its services by introducing OTC Link ECN, an Electronic Communication Network that offers anonymous order matching functionality for OTC securities.
# 2021: OTC Link further diversified its offerings with the launch of OTC Link NQB, another alternative trading system operating as an IDQS with order matching functionality.
Throughout its history, OTC Link has played a significant role in the OTC securities market, providing infrastructure for trading less liquid securities not listed on major exchanges. The company's platforms have largely replaced the functions of the OTC Bulletin Board (OTCBB), which saw a decline in activity over the years.
In August 2024, OTC Link faced regulatory scrutiny when the SEC charged the company with failing to file Suspicious Activity Reports (SARs) as required by the Bank Secrecy Act and SEC regulations over a three-year period. This event marked a significant challenge in the company's regulatory compliance history.
OTC Link's development has been closely tied to the evolution of OTC Markets Group, its parent company, which has a longer history dating back to 1913 when it was established as the National Quotation Bureau.
== Regulatory Status ==
OTC Link LLC has been registered with the U.S. Securities and Exchange Commission (SEC) as a broker-dealer since 2012. It is important to note that none of OTC Link's platforms are classified as national securities exchanges or self-regulatory organizations.
== Products and Services ==
=== Business Operations ===
OTC Link's primary business is the operation of three alternative trading system platforms:
# OTC Link ATS: Launched in 2012, this platform serves as a Qualified Interdealer Quotation System (IDQS) for OTC securities. It provides a fully attributable, network-based model for quoting and facilitating transactions, allowing subscribers to execute or negotiate trades with known counterparties.
# OTC Link ECN: Introduced in 2017, this Electronic Communication Network offers anonymous order matching functionality for OTC securities.
# OTC Link NQB:
 
Launched in 2021, this platform operates as an IDQS with order matching functionality.
== Market Position ==
OTC Link plays a significant role in the OTC securities market, providing infrastructure for trading less liquid securities that are not listed on major exchanges. Its parent company, OTC Markets Group, is known for operating the OTCQX, OTCQB, and Pink markets for over-the-counter securities.
== Key People ==
Here is a list of key people for OTC Markets Group:
*R. Cromwell Coulson, President, CEO and Director
*Antonia Georgieva, Chief Financial Officer
*Bruce Ostrover, Chief Technology Officer
*Lisabeth Heese, Executive Vice President
== References ==
Category:Broker-dealers
Category:Alternative trading systems
Category:Financial services companies based in New York City
Category:Companies established in 2012
Category:Over-the-counter markets
Category:Regulatory compliance issues
Category:OTC Markets Group