What are Yellow Sheets?
How Do Yellow Sheets Work?
The Yellow Sheets disseminate information to vendor terminals and websites to subscribing customers. Among other things, the information contains bid, ask, high, low, closing prices and volumes, yields, and telephone numbers for market makers of particular securities.
Why Do Yellow Sheets Matter?
Small companies that may not meet the listing requirements for their securities to be listed on national exchanges might turn to the Yellow Sheets as an alternative. However, because these companies do not meet listing requirements, they are often considered riskier bonds and are less actively traded than listed on national exchanges. Thus, the bid/ask spread is often larger for bonds on the Yellow Sheets.
It is important tothat the Yellow Sheets are not a trading platform or exchange. Rather, Yellow Sheets securities are traded by a network of makers who enter and trades through a closed computer network that can be accessed by subscribers.
Personalized Financial Plans for an Uncertain Market
In today’s uncertain market, investors are looking for answers to help them grow and protect their savings. So we partnered with Vanguard Advisers -- one of the most trusted names in finance -- to offer you a financial plan built to withstand a variety of market and economic conditions. A Vanguard advisor will craft your customized plan and then manage your savings, giving you more confidence to help you meet your goals. Click here to get started.
Read This Next
Ten years ago, the natural gas supply future looked bleak. In a 2003 speech, then-Federal Reserve Chairman Alan Greenspan said: "Today's tight natural gas markets have been a long time in...Read More →
You can elect to buy more stock with it, adding to your...Read More →
We saw the effect of foreign policy on both the U.S. dollar and the New York Stock Exchange when the EU announced a multi-...Read More →