Listing Requirements Of the 12,052 stocks currently available for purchase on the TD Ameritrade Institutional platform, 6,173 are listed on one of the national exchanges. This includes the 3,297 names listed on the NASDAQ, the 2,654 stocks that populate the NYSE (big board), and the 222 are out in left field on the AMEX. The remaining 5,879 are traded using local exchanges in what are called the over the counter (OTC) market or the bulletin boards (Pink Sheets). These "unlisted" stocks are usually very small companies with very low trading volume and shares prices that are usually measured in the pennies rather than dollar amounts. For this reason, they are sometimes also referred to as "penny" stocks. It is somewhat akin to school kids playing baseball outside of a professional stadium. Sometimes it is great. Other times, not so great. The listing requirements of each of the three national exchanges varies, but has a few common themes. There is a listing fee that