Curb trading

Curb trading (also spelled kerb trading) is the trading of securities outside a formal stock exchange. It can occur because a company or its securities do not meet the exchange’s listing requirements, or because investors wish to continue trading after regular exchange hours. Historically, the term originated from traders conducting business literally on the curbs outside stock exchange buildings."Curb Trading Definition". Investopedia. Retrieved 17 October 2025.

History

During the late 19th and early 20th centuries, stockbrokers in financial centers such as New York City who were not members of the major exchanges traded on the street curbs, earning the nickname "curbstone brokers." These informal markets eventually became more organized, leading to the establishment of the New York Curb Exchange, which was later renamed the American Stock Exchange.Perkins, Edwin J. (1999). Wall Street to Main Street: Charles Merrill and Middle-Class Investors. Cambridge University Press. pp. 38–40.

Modern usage

In modern finance, curb trading refers to trading that occurs outside regular market hours or through over-the-counter (OTC) systems rather than centralized exchanges. After-hours trading through electronic networks is sometimes informally called “curb trading,” although it is now regulated and facilitated by digital platforms rather than physical gatherings."After-Hours Trading". Nasdaq. Retrieved 17 October 2025.

See also

• Curbstone broker
• New York Curb Exchange
• American Stock Exchange
• Chicago Curb Exchange
• Pink Sheets
• Over-the-counter (finance)
• Dark pool