Frequently Asked Questions

Please find below some FAQs
about OTC Direct.

Frequently Asked Questions

Which products can I trade on OTC Direct?

Initially, the following products will be available to trade on OTC Direct:

- RINs
- CA LCFS Credits
- OR CFP Credits
- Physical Ethanol
- Financial Ethanol

We plan to add more products in the near future.

How much does it cost to trade on OTC Direct?

For active traders it is free. There is no set up fee and no monthly fee.

When a trader inputs a bid or offer that trades, there is also no transaction fee!

A transaction fee only applies when a trader hits or lifts a resting bid/offer belonging to another firm. When a transaction fee does applies, it is good to know that we donate 10% to charitable causes.

Who owns and operates OTC Direct?

The OTC Direct platform is owned and operated by OTC Direct Markets Limited.

OPIS is not involved in the operation of OTC Direct.

What is OPIS Trade Link?

OPIS Trade Link is an electronic price assessment of order and trade data for certain products listed on OTC Direct. You can easily identify OPIS Trade Link products as they have "(OPIS)" in the product name e.g. Ethanol D6 RIN V20 (OPIS)

Are my Bids and Offers anonymous?

Yes, all bids and offers are anonymous. A counterparty is only revealed to the other side when a bid or offer is traded.

How does OTC Direct control which counterparties I can trade with?

OTC Direct has a sophisticated bilateral counterparty matrix that allows a designated user at your firm to manage which counterparties you can trade with. You are in complete control.

What is P2P trading?

P2P stands for Peer-to-Peer. This is a direct trade between two trading firms without any broker involvement. All trades on OTC Direct are P2P.

What does Initiator mean?

If you input a Bid or Offer on OTC Direct that is traded by another counterparty, then your firm is the "Initiator" on the trade. If you trade another firm's Bid or Offer, then you are not the Initiator.

What does All or None mean?

All or None is a flag on a Bid of Offer that means the quantity cannot be partially traded. Only the whole quantity on the Bid or Offer can be traded. All or None prices have an asterisk "*" next to the quantity amount.