MJBizMag October 2021 - 93

same manner as exchanges, interdealer
quotation systems have different
requirements and mechanisms for
publicly traded stocks.
Quote systems provide information
on the current value of securities for
companies that list with them. This
information is provided by buyers and
sellers expressing the prices at which
they are willing to transact. However, the
system does not directly participate in
any trades. In other words, an investor or
broker will make a deal directly with the
current securities owner, which might be
the company or another investor/broker.
Quote systems are also regulated
differently than exchanges. In the United
States, the over-the-counter (OTC)
markets are overseen by the Financial
Industry Regulatory Authority (FINRA)
rather than the Securities and Exchange
Commission. FINRA also provides an
electronic quotation system for OTC
stocks, known as the Over-the-Counter
Bulletin Board (OTCBB).
There are few filing requirements for
companies listing on OTC markets, and
companies can be much less transparent
about their operations than on formal
exchanges.
Quote systems include:
* Over-the-Counter Bulletin Board
(OTCBB)
* OTC Link
* Pink
New York Stock
Exchange (NYSE)
Market cap:
$26.2 trillion*
Number of companies listed: 2,800
(on primary exchange)
Allows plant-touching companies:
Only if federally legal where company is
headquartered
Sample companies listed on NYSE:
Aurora Cannabis (ACB), Pure US
Cannabis ETF (MSOS), Scotts MiracleGro
Co. (SMG)
NEO
Market cap:
$3.3 billion
(CA$4.1 billion)
Number of companies listed: 1,892
Allows plant-touching companies: Yes
Sample companies listed on NEO:
Columbia Care (CCHW), Tilt Holdings
(TILT)
Nasdaq
Market cap: $19.4 trillion
Number of companies listed: 4,467
Allows plant-touching companies:
Only if federally legal where company is
headquartered
Sample companies listed on Nasdaq:
Canopy Growth Corp. (CGC),
GrowGeneration Corp. (GRWG), Tilray
(TLRY)
Toronto Stock
Exchange
(TSX)
Market cap:
$3.2 trillion
(CA$4 trillion)
Number of
companies listed: 1,707
Allows plant-touching companies:
Only if federally legal where company is
headquartered
Sample companies listed on TSX:
Canopy Growth Corp. (WEED), Cronos
Group (CRON), Organigram (OGI)
TSX Venture
Exchange
(TSXV)
Market cap:
$80.6 billion
(CA$101 billion)
Number of companies listed: 1,892
Allows plant-touching companies:
Only if federally legal where company is
headquartered
Sample companies listed on TSX-V:
Eve and Co. (EVE), The Flowr Corp.
(FLWR), Khiron Life Sciences Corp.
(KHRN)
Canadian Securities Exchange (CSE)
Market cap: $50.1 billion
(CA$63.2 billion)
Number of companies listed: 706
Allows plant-touching companies: Yes
Sample companies listed on CSE:
Ayr Wellness (AYR), Green Thumb
Industries (GTII), Trulieve Cannabis
Corp. (TRUL)
Market cap figures as of July 2021.
October 2021 | mjbizdaily.com 91
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MJBizMag October 2021

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