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Unlisted Security

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Unlisted Security
A Security that is not traded on an Exchange, usually because of an inability to meet listing requirements.
    
An unlisted Security is also known as an "over-the-counter" (OTC) Security. In the UK the term "unquoted" is used .Over-The-Counter - OTC is a Security traded in some context other than on a formal Exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" can be used to refer to stocks that trade via a dealer network as opposed to on a centralized Exchange.
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