A security which is not traded on an exchange, usually due to an inability to meet listing requirements. For such securities, broker/dealers negotiate directly with one another over computer networks and by phone, and their activities are monitored by the NASD. OTC stocks are usually very risky since they are the stocks that are not considered large or stable enough to trade on a major exchange. They also tend to trade infrequently, making the bid-ask spread larger. Also, research about these stocks is more difficult to obtain.
also called over-the-counter (OTC).

Use unlisted in a sentence

You may want to have your business be unlisted if you do not think there is any need to get involved in that market.

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The security was unlisted so we were unable to find it's parent fund nor the security we were looking for on the exchanges.

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Just because they don't met requirements of the major indexes, it's important not to rule out unlisted securities as they can hide some great firms with major upside.

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unlisted stock over the counter margin stock