新金融市場調査：国際上場企業はOTCQXのクロス取引で本国市場と米国で上昇

AsiaNet 74024 （1075）

【ニューヨーク2018年6月21日PR Newswire＝共同通信JBN】

＊独立調査によって、OTCQXで取引される国際企業は、加入後に本国市場で株価と流動性の上昇を体験すると判明。

OTC Markets Group Inc.（OTCQX: OTCM）（http://www.otcmarkets.com/stock/OTCM/quote?utm_source=Press%20Release&utm_medium=Press%20Release&utm_campaign=Press%20Release ）が21日発表した新しい調査によると、米国外にプライマリー上場する国際企業はOTCQX(R) Best Marketに加わった後、本国市場での株式取引数が28%増加した。さらに各社は米株主の株式保有が7倍に増えている。

「The OTCQX Advantage: Benefits for International Companies」は次でダウンロード：https://www.otcmarkets.com/files/The%20OTCQX%20Advantage%20-%20Benefits%20for%20International%20Companies.pdf

独立した調査の「The OTCQX Advantage: Benefits for International Companies」は、優良な米店頭（OTC）株式市場であるOTCQXでのクロス取引によって、国際企業の本国市場における株価と流動性がどう変化したかを評価するため、戦略助言会社のOxford Metrica（http://www.oxfordmetrica.com ）が実施した。調査が評価したのは、2007年以降にOTCQX Marketで取引された500社以上のデータ。

OTC Markets Groupのジェーソン・パルトロウィッツ法人サービス担当執行副社長は「経営陣と投資家対応チームに、具体的で予測可能な結果を出せるクロス取引の優良市場を提供できて喜ばしい。その結果は、各社の本国市場での流動性を改善しつつ、透明性の向上と米株主の増加、株主価値の拡大に対応している。この最新調査はOTCQX Marketの立証済みの水準と、投資家を重視する確立した国際企業が米金融市場で主要グローバル企業の中での取引に向けて、効率的でコスト効果の高い過程の利益の増加を経験する機会を示すものだ」と語った。

▽主な調査結果は次の通り：

＊OTCQX Marketに参加後、米株主の持ち株は7倍増

＊OTCQX Marketに入った後、本国市場での株式取引数で測った流動性は28%増加

＊OTC市場内の株式取引数は37%増

＊分布の下半分に該当する企業の株式取引数は43%増

＊分布の上半分に該当する企業の株式取引数は12%増

▽調査と方法について

調査はOTC Markets Groupの依頼でOxford Metricaが実施した。2007年以降にOTCQXに加わったすべての国際企業を分析した。結果的に、調査対象は500社以上で構成されている。株価と取引数のデータはOTCQXに加わる1年前と、加わった3年後で、株主のデータは1年前と5年後。

＊この実証可能な調査はOTCQXに加わった各国際企業の本国市場での株価と流動性を評価

＊価値創造は市場リターンと個別要因を調整した後の株価の動向を測定

＊流動性の影響はTrading Volume Multiplier（TM）の1日平均の変化によって測定

調査報告全体のコピー（https://www.otcmarkets.com/files/The%20OTCQX%20Advantage%20-%20Benefits%20for%20International%20Companies.pdf ）は次で入手可能： www.otcmarkets.com

Oxford Metricaとの2016年1月の前回調査「OTCQX：The Clear Advantage」（http://www.oxfordmetrica.com/public/CMS/Files/1569/OM-report-for-OTCM_Jan16.pdf ）は、OTCQXで取引される企業の流動性の影響を評価した。調査結果は、OTCQX Marketに加わった企業の流動性が大幅に増加し、株式取引数と取引額が増え、買値と売値の差が縮小し、銘柄当たりのブローカーディーラー数が多くなったことを示した。

▽OTC Markets Group Inc.について

OTC Markets Group Inc. （OTCQX: OTCM）（http://www.otcmarkets.com/stock/OTCM/quote ）は、OTCQX(R) Best MarketとOTCQB(R) Venture Market、Pink(R) Open Marketを運営し、米内外の証券1万銘柄を扱う。同社はOTC Link(R) ATS とOTC Link ECNによって、流動性を供給してサービスを執行するブローカーディーラーの多様なネットワークを結ぶ。投資家には好みのブローカーを通した便利な取引を可能にし、企業には投資家のための情報の質を改善する力を与えている。

当社のより良い情報に基づく効率の高い市場の形成への取り組みの詳細はwww.otcmarkets.com を参照。

OTC Link ATSとOTC Link ECNは、FINRA/SIPCのメンバーで米証券取引委委員会（SEC）の規制を受けているATSとしてのOTC Link LLCが運営している。

OTC Markets RSS Feedの申し込み：http://www.otcmarkets.com/syndicate/rss.xml

▽メディア問い合わせ先

OTC Markets Group Inc.

+1 (212) 896-4428

media@otcmarkets.com

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ソース：OTC Markets Group Inc.

New Capital Markets Study: International Public Companies Get Home Market and US Boost From Cross-Trading on OTCQX

PR74024

NEW YORK, June 21, 2018 /PRNewswire=KYODO JBN/ --

-- Independent Study finds international companies trading on OTCQX experience

enhanced value and liquidity in their home markets after joining

International companies, with a primary listing outside the US,  experienced a

28% increase in trading volume by number of shares within their home market

after joining the OTCQX(R) Best Market, according to a new study released today

by OTC Markets Group Inc. (OTCQX: OTCM) (

http://www.otcmarkets.com/stock/OTCM/quote?utm_source=Press%20Release&utm_medium=Press%20Release&utm_campaign=Press%20Release

). In addition, companies saw a 7-fold increase in US ownership.

Download The OTCQX Advantage: Benefits for International Companies  (

https://www.otcmarkets.com/files/The%20OTCQX%20Advantage%20-%20Benefits%20for%20International%20Companies.pdf

)

The independent study, "The OTCQX Advantage: Benefits for International

Companies," was conducted by strategic advisory firm Oxford Metrica

(http://www.oxfordmetrica.com) to evaluate the value and liquidity impact

within an international company's home market upon cross-trading on OTCQX, the

premium market of the US over-the-counter ("OTC") equity market. The study

evaluated a data set of over 500 international issuers that have traded on the

OTCQX Market since 2007.

"We are pleased to deliver a premium market for cross-trading that provides

executive management and investor relations teams with tangible, measurable

results that correlate to enhanced visibility, growth in US ownership and an

increase in shareholder value, while improving the respective home market

liquidity," said Jason Paltrowitz, Executive Vice President of Corporate

Services at OTC Markets Group.  "This latest study is indicative of the

demonstrated quality of OTCQX Market and the opportunity presented for

established, investor-focused international companies to experience incremental

benefits of an efficient, cost-effective path to trade among leading global

issuers in the US capital markets."

Study Findings include:

    -- US ownership increased by 7-fold after joining the OTCQX Market

    -- Liquidity, as measured by trading volume by number of shares, increased

       by 28% within the home market following a move to the OTCQX Market

    -- Trading volume by number of shares increased 37% within the OTC market

    -- Trading volume of companies falling into the lower half of the

       distribution by size increased 43%

    -- Trading volume of companies falling into the upper half of the

       distribution by size increased 12%

About the Study and Methodology

The study was commissioned by OTC Markets Group and conducted by Oxford

Metrica. All international companies that have been admitted to the OTCQX since

2007 were analyzed. The resultant portfolio consists of more than 500 firms.

Price and volume data one year prior to joining OTCQX and three years after

joining were obtained, as well as ownership data one year prior and 5-years

post-join.

    -- The empirical study evaluates the value and liquidity impact within the

       home market of the respective international firms once they have joined

       OTCQX.

    -- The value creation is measured as the performance of the share price,

       after controlling for market returns and idiosyncratic factors.

    -- The liquidity impact is measured by the change in the average daily

       Trading Volume Multiplier(TM).

A copy of the full study (

https://www.otcmarkets.com/files/The%20OTCQX%20Advantage%20-%20Benefits%20for%20International%20Companies.pdf

) is available on www.otcmarkets.com.

In January 2016, a previous study by Oxford Metrica, OTCQX: The Clear Advantage

(http://www.oxfordmetrica.com/public/CMS/Files/1569/OM-report-for-OTCM_Jan16.pdf

), evaluated the impact on liquidity of companies that trade on OTCQX. Findings

indicated that after firms joined the OTCQX Market, there were significant

increases in liquidity: trading volume by number of shares and dollar volumes

increased; bid-ask spreads fell and there was an increase in the number of

broker dealers per security.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM)

(http://www.otcmarkets.com/stock/OTCM/quote) operates the OTCQX(R) Best Market,

the OTCQB(R) Venture Market and the Pink(R) Open Market for 10,000 U.S. and

global securities. Through OTC Link(R) ATS and OTC Link ECN, we connect a

diverse network of broker-dealers that provide liquidity and execution

services. We enable investors to easily trade through the broker of their

choice and empower companies to improve the quality of information available

for investors.

To learn more about how we create better informed and more efficient markets,

visit www.otcmarkets.com.

OTC Link ATS and OTC Link ECN are operated by OTC Link LLC, member FINRA/SIPC

and SEC regulated ATS.

Subscribe to the OTC Markets RSS Feed

(http://www.otcmarkets.com/syndicate/rss.xml)

Media Contact:

OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

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SOURCE OTC Markets Group Inc.