Bulletin Board

Also in the US called the NASD Bulletin Board, the Electronic Bulletin Board, the OTC Bulletin Board and, by stock promoters, the NASDAQ Bulletin Board. Purpose of the Bulletin Board was to trade quality Over-the-Counter shares of American "reporting" companies and foreign shares legally trading in the United States. Unfortunately, it has degenerated into trading many "exempt" securities and fails to inform the investor they are buying shares in companies whose stock can't trade elsewhere. In Europe similar Bulletin Boards exists connected to the various Stock Exchanges in the different member states.