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<p><b>Over-the-counter</b> (<b>OTC</b>) or <b>off-exchange</b> trading or <b>pink sheet</b> trading is done directly between two parties, without the supervision of an <a href="page.php?w=exchange_%28organized_market%29">exchange</a>. It is contrasted with exchange trading, which occurs via exchanges. A <a href="page.php?w=stock_exchange">stock exchange</a> has the benefit of facilitating <a href="page.php?w=Market_liquidity">liquidity</a>, providing transparency, and maintaining the current <a href="page.php?w=market_price">market price</a>. In</p><p>
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