Phoenix Web Group created otcIM as a trading platform that is designed around communicating through instant messaging services such as MSN's and Yahoo's Instant Messaging clients. PWG has developed trade bots (essentially automated IM buddies which run on our servers) that can be added to a Friends List and interacted with using a user-definable compact format.

The trade bots will parse the formatted instant message creating a trade, bid, or offer out of it and push it into otcIM trade platform. Once the trade is in the otcIM system, it is displayed on a web page where others can see it and, if they wish, use the system to negotiate and complete the trade. The process is done completely through the trade bots so it is anonymous, but quick and easy. Once both parties have agreed to a negotiated deal, the trade will be closed and it will be pushed through to another system through the otcIM API.

One of the most exciting features is that users are able to define their own trade command sets through a trade command builder web page. There they can choose a product, such as a Euro Option or a Collar, and create a trade command that is easy for them to remember and use.