Most bonds are traded in the Over-The-Counter (OTC) market which is made up of Banks and security firms.

大部分债券是通过场外交易(Over - The - Counter, OTC)市场进行交易的。场外交易市场是由银行和证券公司所组成。

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An OTC equity security generally is any equity that is not listed or traded on NASDAQ or national securities exchange.

通常，在OTC市场上交易的是那些还没有在NASDAQ或其他全国性证券交易所进行交易的证券。

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