The over the counter market (OTC) is used to describe trading securities that:

The over the counter market (OTC) refers to a decentralized market where trading of financial instruments occurs directly between two parties, rather than on a centralized exchange. This market is characterized by several key features:

• Securities traded in the OTC market do not take place on formal exchanges, allowing for a broader range of financial instruments, including stocks, commodities, and derivatives, to be bought and sold.

• The OTC market utilizes a telecommunications network to facilitate transactions, enabling participants from various locations to connect and trade with one another.

• The trading process often involves negotiations between buyers and sellers, where they relly on the bid and ask prices rather than a standardized order book found on exchanges.

These attributes collectively define the OTC market, confirming that all aspects mentioned are integral to how it operates. Hence, the correct response encompasses the entirety of these characteristics, making it a comprehensive choice.