Maritime Block Logo

Testing the Waters: Tapping U.S. Capital Markets without SEC Registration by Cross-Trading on OTCQX International

Capital Markets, Litigation
July 22, 2021

by Keith Billotti,, (212) 574-1274

The U.S. capital markets offer greater liquidity and deeper pool of sophisticated investors, skilled investment professionals and financial news and media outlets than any other market in the world. However, because of the fear of the registration with the U.S. Securities and Exchange Commission (the “SEC”), the cost of compliance with the U.S. federal securities laws, and the burden of meeting stock exchange cross-trading requirements, many international companies elect not to have their securities traded in the United States. OTCQX International provides a cost-effective way for smaller foreign private issuers with securities cross-traded on a qualified foreign exchange to test the U.S. capital market waters and have their securities traded in the United States without SEC registration under the U.S. Securities and Exchange Act of 1934.

Click here to view the full article.

To learn more about cross-trading on the OTCQX Market, please contact Keith Billotti at or your Seward & Kissel relationship partner.

The opinions expressed are those of the author(s) and do not necessarily reflect the views of the firm or its clients, or any of its or their respective affiliates. This article is for general information purposes and is not intended to be and should not be taken as legal advice.


Fill out the following form to receive our maritime law news and analysis.