OTCQX: An Alternative U.S. Trading Venue

Cowen and Company is one of a select group of investment banks that has been selected as a Principal American Liaison (PAL) and Designated Advisor for Disclosure (DAD). As a Principal American Liaison and Designated Advisor for Disclosure, Cowen Securities can sponsor OTCQX listings for both non-U.S. and U.S. based issuers. As part of our sponsorship, Cowen Securities provides a suite of services designed to build awareness and facilitate U.S. trading.

The OTCQX provides a superior platform for U.S. investors to access information about an issuer’s news, filings and other relevant investment information. The OTCQX market maker network greatly increases the efficiency and liquidity of trading by allowing U.S. investors instant access to firm prices through U.S. broker dealers. Over 200 market makers provide continuous liquidity during U.S. market hours and connectivity to primary market trading while shielding investors from the complexity of cross-border trading, currency conversions and international clearing.

FOR NON-US ISSUERS: OTCQX International is a prominent equity market in the United States that does not require SEC registration or Sarbanes-Oxley compliance. Built on a robust electronic quotation and trading platform, OTCQX International has emerged as the world’s premier cross-listing venue for international issuers that wish to benefit from U.S. trading and investor demand without diluting their current shareholder base.

FOR DOMESIC ISSUERS: The OTCQX provides a primary listing venue for domestic registered and non-registered freely trading equity securities. The OTCQX domestic market provides issuers with an efficient and robust platform on which to list securities that is separate and distinct from the bulletin board and pink sheet markets. The OTCQX market DAD sponsorship and listing process serves to differentiate companies that have strong operating models and provide high-quality disclosure to the marketplace.

To request a proposal from Cowen, click here and include the following information in the request:

• Company name
• Home market
• Ticker
• Market capitalization
• Contact information (name, title, email, phone number)