Over-the-counter (OTC) refers to medications that can be purchased without a prescription from a healthcare provider. These drugs are typically used to treat common ailments, such as headaches, colds, and allergies. OTC medications are available at pharmacies, grocery stores, and online, making them easily accessible to the public. In addition to medications, the term OTC is also used in finance to describe securities traded directly between parties without a centralized exchange. This includes stocks, bonds, and derivatives that are negotiated through a dealer network, allowing for more flexible trading options outside of traditional markets.