Daily listings of price quotations for thousands of over-the-counter securities not traded on Nasdaq. Published on pink paper by the National Quotation Bureau (a unit of Commerce Clearing House), The Pink Sheets list stocks that are smaller, newer, and generally riskier and less actively traded than those listed on Nasdaq and the other traditional exchanges. Also listed are the dealers who make a market in those securities. Due to the nature of pink sheet quotations -- the need for printing, distribution, etc. -- the market for pink sheet stocks is less efficient than for stocks traded on major exchanges. An electronic version of The Pink Sheets is known as the OTC Bulletin Board.