 |
Definition of 'Off Board'
A stock transaction that fits one of the following two criteria:
1. A stock trade involving a security that does not trade on a major exchange, i.e., an over-the-counter (OTC) stock.
2. A stock trade involving a stock that is listed on a major exchange but is still executed over the counter, typically between two institutions or an institution and a customer. This type of off-board trade can be done only with 19c3 securities, or stocks that listed on the exchange after 1979.
|
