over-the-counter
UK: ˌəʊvəðəˈkaʊntə | US: ˌoʊvərðəˈkaʊntər
adj. (of medicines) sold legally without a prescription.
adj. (of financial securities) traded directly between parties rather than on a formal exchange.
The phrase "over-the-counter" originated in the early 19th century, combining "over" (spatially above) and "counter" (a sales surface, from Old French comptoir). It initially described transactions conducted directly across a shop counter, later extending to medicines sold without prescriptions (early 20th century) and decentralized financial trading (mid-20th century). The logic reflects bypassing formal intermediaries—whether doctors (for drugs) or exchanges (for stocks).
Pain relievers like ibuprofen are available over-the-counter.
The pharmacy stocks both prescription and over-the-counter medications.
Over-the-counter trading often involves less regulatory scrutiny.
Some investors prefer over-the-counter markets for their flexibility.
Herbal supplements are typically sold over-the-counter.