New benchmark tracks performance of shareholder-friendly community and regional banks nationwide
NEW YORK – January 26, 2015 – OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities, today announced the launch of the OTCQX Banks Index (.OTCQXBK), a new benchmark for tracking U.S. community and regional banks on the OTCQX® marketplace. The news was announced at Bank Director’s “Acquire or Be Acquired” conference, taking place January 25-27 in Scottsdale, AZ.
“OTCQX banks are among the most strongly-capitalized, well-managed and shareholder-friendly small banks in our public markets today,” said Jason Paltrowitz, Managing Director and Global Head of Business Development at OTC Markets Group. “With the launch of our OTCQX Banks Index, investors and analysts now have a reliable tool for measuring performance of these banks over time. The index also expands the number indexes tracking OTCQX securities with the launch of our OTCQX Composite Index, OTCQX U.S. Index and OTCQX International Index earlier this month, bringing greater attention to the breadth of high-quality U.S. and global securities on our OTCQX marketplace.”
The OTCQX Banks Index is comprised of small- and mid-sized community and regional banks or their holding companies that have met the stringent requirements for trading on OTCQX, including high qualitative and quantitative financial standards and regular distribution of news and financial disclosure to investors. The index is capitalization-weighted and has a minimum liquidity screen to further its use as an effective benchmark.
The index is calculated on a total return and price return basis. The indexes will be rebalanced quarterly to account for the growing number of banks on OTCQX. Price data is calculated in real-time and is available on OTC Markets Group’s website, www.otcmarkets.com , and through major financial data services and websites such as Bloomberg, Reuters and FT.com.
“We are very excited to see the launch of the prestigious OTCQX Banks Index. The new index will include extremely high-quality banks and will be a great measuring stick for small banks and a great tool for small bank investors,” said Joey Warmenhoven of Wedbush Securities, Inc., a leading financial firm and FINRA-member broker-dealer specializing in trading and advising banks.
The complete list of index components can be found on OTC Markets Group’s website at http://www.otcmarkets.com/index/.OTCQXBK/constituents.
Solactive AG is the calculation agent for the index.
For more about the OTCQX Banks Index, visit the OTC Markets Group booth at the “Acquire or Be Acquired” conference or visit www.otcmarkets.com. OTC Markets Group is speaking at and is a sponsor of the conference.
This release is for informational purposes only. OTC Markets Group Inc. provides no advice, recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com .
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, firstname.lastname@example.org