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Pink Sheets

Pink Sheet Market, formerly known as National Quotation Bureau, abbreviated as NQB, was established in 1913 as a private enterprise named after its initial practice of printing quotations on pink sheets. In 1963, NQB was purchased by a large publishing conglomerate, which allowed NQB to continue publishing books and providing information through printing. In 1997, NQB changed its management team and used new technology such as electronic bulletin boards to provide customers with transaction information at the over-the-counter trading center. In June 2000, NQB changed its name to Pink Sheets LLC (Liability Limited Company).
Today, the powder order trading market has been included in Nasdaq's bottom tier first level quotation system, which is the primary form of OTC (over-the-counter) quotation in the United States. The broad definition of the US OTC market includes NASDAQ, OTCBB, and powder order market, which are listed in the order of NASDAQ → OTCBB → powder order according to their listing price requirements.

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