New York-based OTC Markets Group Inc., which operates various U.S. over-the-counter markets (OTC) on Monday announced that it is launching a new performance benchmark for Canadian companies that are traded on the OTCQX Best Market, to be known as the OTCQX Canada Index.
The index comprises securities that are traded on OTCQX, listed on the Toronto Stock Exchange, TSX Venture Exchange, or the Canadian Securities Exchange, and meet a minimum liquidity screen. The index includes everything from familiar names, such as Air Canada and Bombardier Inc., to smaller companies, in a range of industries from resources to tech. It will be rebalanced on a quarterly basis in March, June, September and December.
Penny stocks are not allowed on the index.
“The OTCQX market is home to more than 120 high-quality, investor-focused Canadian companies you won’t find on the U.S. exchanges,” says Jason Paltrowitz, executive vice president of OTC Markets Group, in a news release. “With the launch of our OTCQX Canada Index, investors can now better identify and track the performance of these companies over time.”