OTC Markets has enlised VStock Transfer as the first participant in its new initiative to create a central repository for share data on companies traded on their various marketplaces. The initiative is designed to boost overall transparency for securities traded on OTC Markets. Cromwell Coulson, CEO of OTC Markets, explained the need;
“The lack of accurate share information is one of the key challenges for small company markets. Without reliable share data, investors cannot make informed investment decisions and brokers are constrained from trading, thus increasing costs for all market participants. Our platform helps transfer agents provide current share information for their client companies and makes it publicly available to investors. This allows companies to build credibility with investors and brokers, and helps transfer agents provide a higher level of service for their clients.”
OTC Markets Group continues to work with the transfer agent community to educate and enroll them in their program. There is no fee for transfer agents to participate. This most recent initiative is part of OTC Markets push to add features and services to improve the caliber of services offered to both issuers and investors.