OTC Markets Group Acquires theOTC.today for Stock Promotion Data
Yesterday, OTC Markets Group announced that it acquired theOTC.today – an independent website that monitors and analyzes stock promotion campaigns. As a result of the transaction, OTC Markets Group has obtained access to valuable research and historical data on stock promotions that will be used to enhance OTC Markets’ issuer compliance processes and compliance data product offerings.
Since its launch in April 2011, theOTC.today has tracked and published data on stock promotion schemes and raised public awareness of fraudulent promoters in OTC and exchange listed securities. In the acquisition, OTC Markets will take over the data collection process and incorporate data into its existing market data products. Expanding the data availability will allow all market participants to better identify the subset of securities that are undergoing promotions. In addition, OTC Markets will make key promotion data publicly-available on its website, www.otcmarkets.com.
“Manipulative stock promotion harms all public markets. This acquisition continues our strategy of increasing the quality and availability of unique market data to help investors, broker-dealers and regulators make better informed decisions,” said R. Cromwell Coulson, President and CEO of OTC Markets Group. “By providing better data around this small subset of securities we will enhance the transparency of trading and improve the efficiency of small company capital formation.“
This acquisition could represent a big step in allowing the OTC Markets to access data required further quell stock promotions. The data provided by theOTC.today may be used to implement the OTC Markets’ planned ‘Active Promotion’ status, promotion disclosure requirements, and to improve compliance data products.
Learn more HERE.