Investopedia explains 'Yellow Sheets'
The National Quotation Bureau (NQB), established in 1913 to provide investors with information regarding OTC stocks and bonds, for decades published pink sheets and yellow sheets (named for the color of the paper on which each was printed). Stock quotes appeared on the Pink Sheets, and bond quotes were published on the yellow sheets. The NQB has since changed its name to Pink Sheets LLC and most recently to OTC Markets Group, Inc. The U.S. Securities and Exchange Commission (SEC) considers OTC Markets Group, Inc. to be a non-exclusive securities information provider, and not a stock exchange.
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