OK wiki to the rescue. Judging from the OTC market price. The SP is 18C now. Basically, think western union for money transfer. While the ASX is like the RBA/big 4.
https://en.wikipedia.org/wiki/Over-the-counter_(finance)
Contracts[edit]
An over-the-counter is a bilateral contract in which two parties (or their brokers or bankers as intermediaries) agree on how a particular trade or agreement is to be settled in the future. It is usually from an investment bank to its clients directly. Forwards and swaps are prime examples of such contracts. It is mostly done online or by telephone. For derivatives, these agreements are usually governed by an International Swaps and Derivatives Association agreement. This segment of the OTC market is occasionally referred to as the "Fourth Market." Critics have labelled the OTC market as the "dark market" because prices are often unpublished and unregulated.[1]
Over-the-counter derivatives are especially important for hedging risk in that they can be used to create a "perfect hedge." With exchange traded contracts, standardization does not allow for as much flexibility to hedge risk because the contract is a one-size-fits-all instrument. With OTC derivatives, though, a firm can tailor the contract specifications to best suit its risk exposure.[6]
