Unlisted Securities Glossary DefinitionsSecurities which are not listed on an organized stock exchange, such as those traded over-the-counter.
UK: Shares (usually in small companies) which are not listed on a Recognized Investment Exchange. A limited number of unlisted securities have traded since 1980 on the unlisted securities market (USM) which however closed at the end of 1996. The USM was replaced by the alternative investment market (AIM).
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