Repsol Joins OTCQX
NEW YORK, March 9, 2011 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Repsol YPF, S.A. (Madrid: REP; OTCQX: REPYY), one of the biggest private oil firms in the world, has chosen to have its American Depositary Receipts (ADRs) traded on the highest tier of the OTC market, OTCQXÃ‚®.
Repsol began trading today on the OTC market’s prestigious tier, OTCQX International Premier. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.OTCQX.com and www.OTCMarkets.com.
“We are pleased to welcome Repsol to OTCQX. This marks a significant moment as OTCQX reaches a combined market capitalization of $1 Trillion,” said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. “Repsol, the largest Spanish oil and gas company, has chosen to remain investor focused as they transition to trade on OTCQX, which allows them to continue to provide superior information and transparent trading on a quality-controlled platform.”
BNY Mellon will serve as Repsol’s Principal American Liaison (“PAL”) on OTCQX, responsible for providing guidance on OTCQX requirements.
About Repsol YPF, S.A.
Repsol YPF, S.A. (Madrid: REP; OTCQX: REPYY) trades in the United States on OTCQX under the symbol “REPYY”, where each ADR represents 1 ordinary share. Repsol is an oil & gas company in all aspects of the petroleum business, including in the exploration, development and production of crude oil, natural gas; the transportation of petroleum products and liquefied petroleum gas (LPG) and natural gas; petroleum refining; production of petrochemicals and marketing of petroleum products, petroleum derivatives, petrochemicals, LPG and natural gas. The Company is organized in four distinct business segments: Exploration and Production; Refining and Marketing; Chemicals; and Gas and Electricity.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. We categorize the wide spectrum of OTC-traded companies into three tiers – OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) – so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
SOURCE OTC Markets Group Inc.