What is the difference between the NASDAQ National Market, The NASDAQ Small-cap Market, and the OTC Bulletin Board?
The main difference between these markets is the listing requirements. The NASDAQ National Market has tougher listing requirements than the NASDAQ Small-cap Market does. Both of these markets are a part of NASDAQ. The OTC Bulletin Board, on the other hand, is not a part of the NASDAQ. Although some companies claim that they are listed on the NASDAQ Bulletin Board, they are really quoted on the OTC Bulletin Board, which is run by the NASDAQ Stock Market, Inc., not NASDAQ. Unlike the NASDAQ National Market and the NASDAQ Small-cap Market, companies that are quoted on the OTC Bulletin Board do not have to meet any listing requirements, but do have to file financial statements in the SEC.
