Welcome to our dedicated page for OTC Markets Group news (Ticker: OTCM), a resource for investors and traders seeking the latest updates and insights on OTC Markets Group stock.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Their data-driven disclosure standards form the foundation of their three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market. Through their OTC Link® Alternative Trading Systems (ATSs), the company provides critical market infrastructure relied upon by broker-dealers to facilitate trading. This innovative model offers companies more efficient access to the U.S. financial markets.
OTC Markets Group is committed to enhancing market transparency, boosting investor confidence, and improving the efficiency of trading processes. Their recent financial results for Q1 2024 reflect a strong focus on enhancing trading functionality, investor information, and market integrity. The company continues to invest in its people, platforms, and processes to build a more resilient and scalable organization, aligning operating costs with revenue generation to deliver value to shareholders.
Recent achievements include the successful sponsorship of companies like Horizon Copper and Roth CH Acquisition Co., which have commenced trading on the OTCQX Market. These companies benefit from streamlined market standards that allow them to utilize their home market reporting to make their information available to U.S. investors. OTC Markets Group also supports companies, such as Marpai, Inc. and American Oncology Network, Inc., transitioning from Nasdaq to OTCQX, ensuring continued visibility and compliance with high financial standards.
With a focus on creating better informed and more efficient markets, OTC Markets Group continues to evolve and expand its services, building on a foundation of transparency and regulatory compliance. For more information, visit www.otcmarkets.com.
OTC Markets Group Inc. (OTCQX: OTCM) announced that Independence Contract Drilling Inc (OTCQX: ICDI) has qualified to trade on the OTCQX® Best Market. ICDI, a provider of contract drilling services for oil and natural gas producers, previously traded on the New York Stock Exchange. The company's stock began trading on OTCQX on August 29, 2024, under the symbol 'ICDI'.
Trading on the OTCQX Market offers companies efficient, cost-effective access to U.S. capital markets with streamlined requirements designed to reduce costs and complexity while maintaining transparency for investors. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
OTC Markets Group Inc. (OTCQX: OTCM) has announced that Breeze Holdings Acquisition Corp. (OTCQX: BRZH), a blank check company, has qualified to trade on the OTCQX® Best Market. Breeze Holdings previously traded on NASDAQ. The company's common stock and public warrants began trading on OTCQX under the symbols 'BRZH' and 'BRZHW' respectively on August 21, 2024.
Trading on OTCQX offers companies efficient, cost-effective access to U.S. capital markets with streamlined requirements designed to reduce costs and complexity while ensuring transparent trading for investors. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with securities laws.
OTC Markets Group (OTCQX: OTCM) reported its Q2 2024 financial results, showing modest growth. Gross revenues increased 1% to $27.6 million, while operating income decreased 2% to $8.1 million. Net income fell 3% to $6.7 million, with diluted EPS at $0.56. The company declared a quarterly dividend of $0.18 per share.
Key highlights include:
- OTC Link revenues up 12% due to higher trading volumes
- Market Data Licensing revenues up 1%
- Corporate Services revenues down 3%
- 569 OTCQX and 1,085 OTCQB companies at quarter end
- 114 subscribers to OTC Link ECN, up 10 from previous year
- Announcement of upcoming OTC Overnight trading service
OTC Markets Group Inc. (OTCQX: OTCM) has announced that TC Bancshares, Inc. (OTCQX: TCBC), the holding company for TC Federal Bank, has qualified to trade on the OTCQX® Best Market. TC Bancshares previously traded on NASDAQ and began trading on OTCQX on August 2, 2024, under the symbol 'TCBC'. The OTCQX Market allows U.S. regional and community banks to reduce costs and complexity associated with being a public company through streamlined market standards.
To qualify for OTCQX, banks must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with securities laws. Greg Eiford, CEO of TC Bancshares, expressed enthusiasm about the move, stating that the board believes the transition to OTCQX will benefit both the company and its shareholders.
OTC Markets Group Inc. (OTCQX: OTCM) has announced its upcoming second quarter 2024 earnings release and conference call schedule. The company will report financial results for the quarter ended June 30, 2024, after U.S. market close on Wednesday, August 7, 2024. A conference call and webcast are scheduled for Thursday, August 8, 2024, at 8:30 a.m. ET, where management will provide detailed insights into the financial performance.
Investors and analysts can access the webcast and management presentation via a provided link, with replay available until August 7, 2025. For those wishing to participate in the Q&A session, pre-registration is required to receive dial-in details. The quarterly report, earnings release, call transcript, and management presentation will be accessible on the OTC Markets Group website's Investor Relations section.
OTC Markets Group Inc. (OTCQX: OTCM) has announced the Q2 2024 performance and rebalancing of its OTCQX and OTCQB indexes. The OTCQX Composite Index rose 1%, while the OTCQX Billion+ Index increased 1.1%. The OTCQX Dividend Index gained 0.9%, but the OTCQX Banks Index fell 0.7%. The OTCQX International Index declined 1%, and the OTCQX Canada Index dropped 0.4%. The OTCQX U.S. Index decreased 3.1%, while the OTCQX Cannabis Index saw a significant 23.4% decline. The OTCQB Venture Index fell 6.1%.
Several companies moved to major exchanges, including Solarbank Corp (SUUN) to NASDAQ and Hafnia (HAFN) to NYSE. Index rebalancing occurred with additions and removals across all indexes. The indexes are market capitalization-weighted and adjusted quarterly, with real-time pricing available on OTC Markets Group's website and major financial data platforms.
OTC Markets Group Inc. (OTCQX: OTCM) has announced a new data distribution partnership with uSMART Securities, a Hong Kong-based fintech brokerage firm. This collaboration enables uSMART to distribute OTC Markets Group's L1 and L2 real-time data through their mobile app, providing users with access to real-time Level 1 + top of book quote data for OTCQX®, OTCQB®, and Pink® securities.
This partnership expands OTC Markets Group's presence in the Asian market and enhances their technology capabilities. The collaboration aims to meet the growing demand for OTC equity securities data among uSMART investors in the U.S. and supports OTC Markets Group's mission to provide comprehensive, contextual, real-time, and analytical data on OTCQX, OTCQB, and Pink securities to broker-dealers, compliance, and risk management teams.
OTC Markets Group Inc. (OTCQX: OTCM) has announced that Cullman Bancorp, Inc. (OTCQX: CULL), the holding company for Cullman Savings Bank, has qualified to trade on the OTCQX® Best Market. Cullman Bancorp, previously traded on NASDAQ, began trading on OTCQX under the symbol 'CULL' on July 22, 2024. The OTCQX Market offers companies efficient, cost-effective access to U.S. capital markets with streamlined requirements designed to reduce costs and complexity while maintaining transparency for investors. To qualify, companies must meet high financial standards, follow best practice corporate governance, and comply with applicable securities laws.
OTC Markets Group (OTCQX: OTCM) announced that Kumyang Co., (KRX: 001570.KS; OTCQX: KMYGY), a global secondary cylindrical battery manufacturer and eco-friendly chemical materials supplier, has qualified to trade on the OTCQX® Best Market. Kumyang began trading on July 19, 2024, under the symbol 'KMYGY'. This move provides efficient access to U.S. capital markets for Kumyang, allowing them to use their home market reporting to make information available in the U.S.
Kumyang's Chairman & CEO, Dr. KJ Ryu, expressed pride in being the first Korean company to graduate to the OTCQX tier, viewing it as a significant step towards becoming a leading global supplier of secondary batteries. JP Morgan acted as Kumyang's OTCQX sponsor for this transition.
OTC Markets Group (OTCQX: OTCM) announced that VerticalScope Holdings Inc. (TSX: FORA; OTCQX: VFORF) has qualified to trade on the OTCQX® Best Market, upgrading from the Pink® market. VerticalScope, a technology company operating a cloud-based digital platform for online enthusiast communities, began trading on OTCQX under the symbol "VFORF" on July 17, 2024.
This upgrade provides transparent trading for U.S. investors and allows VerticalScope to utilize its home market reporting to make information available in the U.S. Rob Laidlaw, Founder, Chair and CEO of VerticalScope, stated that this move will make it easier for U.S. employees and investors to invest in the company and increase exposure to U.S. private and institutional investors.
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