Iranian bourse introduces OTC market
Over-The-Counter (OTC) trading was introduced at the Tehran Stock Exchange on Monday.
OTC is used to refer to stocks that trade via a dealer network as opposed to on a centralized exchange.
It also refers to debt securities and other financial instruments such as derivatives, which are traded through a dealer network.
TSE Secretary General Ali Salehabadi told the Islamic Republic of Iran Broadcasting that OTC is a new financial market which provides fresh investment opportunities for interested parties.
He pointed out that three companies, namely Marjankar, Kavir Tire, and Day Insurance have been accepted in order to start OTC.
Salehabdi predicted that OTC will turn into a big market by the next five years.