Subscription base provides stability

Q3 results for OTC Markets Group (OTCM) provided further evidence of the benefits of its primarily subscription-based revenue model. The trading environment this year has been lacklustre but Q3 revenue and operating margin were only slightly lower. While costs were contained, IT spending increased, boding well for service enhancements and further quarters of 100% uptime. Since the half-year end an additional seven states have given Blue Sky recognition to OTCM’s premium markets, a promising trend for longer-term development of the corporate customer base.