Yellow Sheets

Definition of 'Yellow Sheets'


A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds (also called "corporate"). Companies issue corporate bonds to raise money for capital expenditures, operations and acquisitions. Similar to the Pink Sheets that track non-exchange-traded OTC micro-cap stocks, the yellow sheets are a key source of information for investors who follow OTC bonds or fixed income securities. The yellow sheets also provide a list of brokerages that make a market in the particular bonds. Today's investors can still receive hard copies of the yellow sheets. However, the information is also available in electronic form.

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.



comments powered by Disqus
Hot Definitions
  1. XW

    A symbol used to signify that a security is trading ex-warrant. XW is one of many alphabetic qualifiers that act as a shorthand to tell investors key information about a specific security in a stock quote. These qualifiers should not be confused with ticker symbols, some of which, like qualifiers, are just one or two letters.
  2. Quanto Swap

    A swap with varying combinations of interest rate, currency and equity swap features, where payments are based on the movement of two different countries' interest rates. This is also referred to as a differential or "diff" swap.
  3. Genuine Progress Indicator - GPI

    A metric used to measure the economic growth of a country. It is often considered as a replacement to the more well known gross domestic product (GDP) economic indicator. The GPI indicator takes everything the GDP uses into account, but also adds other figures that represent the cost of the negative effects related to economic activity (such as the cost of crime, cost of ozone depletion and cost of resource depletion, among others).
  4. Accelerated Share Repurchase - ASR

    A specific method by which corporations can repurchase outstanding shares of their stock. The accelerated share repurchase (ASR) is usually accomplished by the corporation purchasing shares of its stock from an investment bank. The investment bank borrows the shares from clients or share lenders and sells them to the company.
  5. Microeconomic Pricing Model

    A model of the way prices are set within a market for a given good. According to this model, prices are set based on the balance of supply and demand in the market. In general, profit incentives are said to resemble an "invisible hand" that guides competing participants to an equilibrium price. The demand curve in this model is determined by consumers attempting to maximize their utility, given their budget.
  6. Centralized Market

    A financial market structure that consists of having all orders routed to one central exchange with no other competing market. The quoted prices of the various securities listed on the exchange represent the only price that is available to investors seeking to buy or sell the specific asset.
Trading Center