An over-the-counter market is a network of brokers and dealers, connected electronically by telephones and computers that provides for trading in securities not listed on the physical stock exchanges.

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An over-the-counter market, also known as OTC market, is a decentralized market where securities that are not listed on the physical stock exchanges are traded. Brokers and dealers are the key players in this market and they are electronically connected through telephones and computers. OTC market is also called a dealer market as the securities are traded directly between the buyers and sellers, unlike the exchange-traded securities that are traded through centralized exchanges.

An Over-The-Counter Market Is a Network of Brokers and Dealers