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|“Over-the-counter” or “OTC”|
"Over-the-counter" or "OTC" means any transaction carried out outside an energy exchange.
The above definition has relevance for REMIT records of transactions.
OTC trading is either purely bilateral or carried out via a broker.
In turn, pursuant to draft MiFIR characteristics of OTC trades includes transactions which are non-systematic, ad-hoc, irregular and infrequent, are carried out between eligible or professional counterparties, and are part of a business relationship which is itself characterised by dealings above standard market size, and where the deals are carried out outside the systems usually used by the firm concerned for its business as a systematic internaliser.
|Last Updated on Tuesday, 25 February 2014 13:34|