NEW YORK, Feb. 27, 2015 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Allegheny Valley Bancorp, Inc. (OTCQX: AVLY), the holding company for Allegheny Valley Bank in Pittsburgh, PA, has qualified to trade on OTCQX®, the best marketplace for established, global and growth companies.
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Allegheny Valley Bancorp begins trading today on OTCQX under the symbol "AVLY." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"We are pleased to welcome Allegheny Valley Bancorp to OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Trading on OTCQX will provide Allegheny Valley Bancorp transparent trading and convenient access to its news and financial disclosure so investors can more easily analyze value and trade its securities. We look forward to working with the company as it continues to grow and serve the citizens and businesses in its communities."
President and CEO of Allegheny Valley Bancorp, Andrew Hasley, stated, "The OTCQX marketplace is an economical way for banks not listed on the NYSE or NASDAQ to trade. Trading on this marketplace will provide our shareholders and potential investors with greater transparency and broader distribution of information which is expected to increase our trading volume and share liquidity."
Boenning & Scattergood, Inc. serves as Allegheny Valley Bancorp's Corporate Broker on OTCQX.
"We are pleased to be selected as the Corporate Broker for Allegheny Valley Bancorp," said Michael A. Galantino, Managing Director of Equity Capital Markets at Boenning & Scattergood. "This is an exciting opportunity for the firm to continue strengthening its position within the community bank space and demonstrate our commitment to bank clients throughout the Mid-Atlantic and Midwest regions."
Allegheny Valley Bancorp is a Pennsylvania corporation and bank holding company headquartered in Lawrenceville, PA, that provides a full range of retail and commercial financial products and services to customers in the Pittsburgh area through its wholly-owned subsidiary bank Allegheny Valley Bank. Allegheny Valley Bank was founded in 1900 and is headquartered in Pittsburgh, Pennsylvania.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Media Contact:
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, saskia@otcmarkets.com
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SOURCE OTC Markets Group Inc.