Taiwan’s OTC market contains the Stock Market and the Emerging Stock Market. The OTC market，like the stock exchange，is a part of the market for circulation of securities. It is also a vital venue for businesses to access direct financing. Firstly，this chapter recalls the development of Taiwan’s OTC market，and the experience about distribution rules，trade rules，and regulation rules；and then point out the position of the OTC market in the Taiwan’s Capital Market. Finally，this chapter also summarizes the characteristic and the operational performance of Taiwan’s OTC market.