Over The Counter Exchange (OTE) is a market where buyers seek out sellers and vice versa and then attempt to arrange terms and condition for purchase/sale acceptable to both parties.
There is no market place in the geographical sense but it is carried on by phone, messages, telex etc.
Advantages
1) Smaller companies can easily be listed.
2) Lower cost of new issue
3) Family concerns can go public
4) Regulatory measures are stringent.
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