There are many different kinds of markets across the globe. From the small fruit stall at your local plaza to the skyscrapers filled with men in suits. Some of these are well known. Think for instance of the insurance market, the housing market or the food market just to name a few. Well, among these markets there are also many, many different markets of which you have probably never heard. To give you an idea of what these are like, we would like to tell you about the OTC market. Be sure to read on and you might learn a thing or two today about, in this case, the OTC market. The first thing you should know is that OTC stands for over the counter. What comes next, you will find out below. Here goes!
Stocks, commodities, options. All of these and more are financial products sold on the many different exchanges around the world. Many of these exchanges open in the morning and close in the evening, but not all financial products like these are part of a schedule like that. Have you ever heard about the forex market, for instance? This is the market where traders can buy and sell different currencies from countries all over the world. Because this is not done on the stock exchanges, people can buy and sell these currencies twenty four hours per day, three hundred and sixty five days per year! When mentioning the OTC market, this is the first and foremost meaning of that.
Different kinds of medicine
In addition to the financial products, there is another market that bears the exact same name: the OTC market. In this case, however, the products are meant for consumption. Medicine can be divided into roughly two categories: medicine prescribed by doctors and medicine which you can buy in stores and supermarkets. The second one is called OTC medicine, or over the counter medicine. Sometimes this is even done in candy, which is why the term OTC Candy exists.
Now you know
Now you know what the two different types of OTC industries are. We really hope that you’ve found it interesting and also quite useful to read about the OTC market. Next time we might discuss something entirely different, like niche companies within the marine market such as We4Sea, or the different kinds of plastic industries for instance!