Tesco PLC has begun trading on the OTCQX Best Market in New York, while retaining its primary listing in London, giving U.S. investors access to the grocery business’ shares.

Operated by OTC Markets Group, OTC Markets is the largest U.S. trading venue for international equities, ranking behind only the New York Stock Exchange (NYSE) and Nasdaq by overall trading volume.

“As globally recognised issuers look to expand their U.S. investor base, OTCQX offers an accessible, regulated venue that complements – rather than competes with – their home exchange,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. “Our ‘List Local, Trade Global’ model allows companies to access U.S. capital efficiently, while remaining anchored in their domestic markets.”

The OTCQX model enables European issuers to tap U.S. investor demand and liquidity pools without the cost, regulatory burden or dilution risks associated with a dual listing or full U.S. relisting. Issuers including London Stock Exchange Group, Aviva, Compass Group, Reckitt Benckiser Group, Bayer AG and OMV AG have also opted to trade on the market in 2025.

OTC Markets said this approach is increasingly being viewed as a response to the structural pressures facing European capital markets, including persistent valuation discounts, declining domestic liquidity and the perception that issuers must migrate listings to the U.S. in order to attract deeper pools of international capital.