What is the term for the market where stocks not listed on national exchanges are traded?

The term for the market where stocks not listed on national exchanges are traded is the Over the Counter Market. This market operates outside of the traditional stock exchanges, allowing for trading of securities directly between parties, often facilitated by a dealer network. Companies that may not meet the stringent requirements of centralized exchanges can still issue stocks and trade them in this market.

The Over the Counter Market is particularly beneficial for smaller or less established companies, as it provides an avenue for them to access capital even if they do not qualify for listing on larger exchanges. This market can include various financial instruments, such as stocks, bonds, and derivatives, and is characterized by negotiations and trades that are typically conducted via phone or electronic systems.

In contrast, other markets mentioned, such as the Foreign Exchange Market, focus on the trading of currency, while the Curb Market historically referred to trading that occurs in public spaces not directly regulated by exchanges. The Primary Market is where new securities are created and sold, primarily during initial public offerings (IPOs). This highlights the unique nature and significance of the Over the Counter Market in facilitating trading for a diverse range of securities.