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View Full Version : I don't get foreign exchanges


BradleyT
02-21-2005, 01:10 AM
I know Neteller is traded on the london exchange. So I went to Ameritrade to do a symbol lookup and it came back with NTLRF

Yahoo lists it as NTRLF.PK /images/graemlins/confused.gif

http://finance.yahoo.com/q?s=NTLRF.PK

Why is this a pink sheet? And if I buy this, I'm buying Neteller the same as if I were buying london shares right???

schroedy
02-21-2005, 01:15 AM
Many foreign stocks trade on the US pinks.

At least I know that many Chinese issues trade there.

This is from another site:

[ QUOTE ]
There are no minimum quantitative standards, which must be met by an issuer for its securities to be quoted on the Pink Sheets.

Pink Sheet Stock Issuers do not have to be reporting companies with the US Securities and Exchange Commission (SEC).

Pink Sheet Stock Issuers do not have any ongoing filing or reporting requirements with the SEC or the NASD for quotation in the Pink Sheets.

Investors must contact a broker/dealer to trade Pink Sheet Stock securities. Investors do not have direct access to the Pink Sheet Stock service.

The SEC's Order-Handling Rules which apply to Nasdaq-listed securities do not apply to Pink Sheets securities.




[/ QUOTE ]

GeorgeF
02-21-2005, 11:16 AM
It is illegal for Americans to trade in stocks that do not have SEC authorization. Netteller wants to have American shareholders, but does not want to go throught the expense of a US stock market listing. The solution is a pink sheet listing. Ask your broker if they can purchase the shares in Europe for you (ADR), or contact a full service broker like www.debary.com. (http://www.debary.com.)

BradleyT
02-21-2005, 11:25 AM
Thanks George.