The expression private means by amicable agreement, by mutual agreement . A transaction private is a transaction between two free to contract and normally informed parts (in particular in Immobilier). It is with opposite of a forced transaction, that is to say by expropriation, liquidation of bankruptcy, etc

A market of by private contract - or Over The Counter ( OTC ) in English ( except Stock Exchange ) - is a market on which the Transaction is concluded directly between the salesman and the purchaser. He is opposed to a Marché organized (or in Bourse), where the transaction is done with the Bourse. The operations are often standardized there and less standardized S or within a lawful framework more flexible.

For example, the market of the currencies is primarily a market private  : a Undertaken or a Banque which wishes to carry out an exchange transaction will be put in direct relationship with another bank. There exists however an organized market of the devises : CLS.

Sometimes, a broker is used as intermediary, but this last is not a contrepartie : it will not intervene in the payment of the transaction. Sometimes, on the other hand, a bank proposes it even this type of transaction and the counterpart ensures some, but often in covering its risk on another market.

A market private is less Transparent that a gone organized.

See too

• Stock Exchange (economy)

• Futures market
• Directive concerning the markets of financial instruments instituting in particular the possibility of transactions on financial instruments without passing by the purses.