> For the complete documentation index, see [llms.txt](https://docs.alcor.exchange/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.alcor.exchange/faq/whats-the-difference-between-using-swap-market-trade-and-otc.md).

# Whats the difference between using Swap, Market Trade, and OTC?

**What's the difference between using Swap, Market Trade, and OTC?**

* [**Swap**](/main-page-overview/swap.md) utilizes a [**liquidity pool**](/faq/what-is-a-liquidity-pool.md) to fulfill a token exchange.
* [**Market trades**](/main-page-overview/markets/market-exchange.md) use that token pairs [**order books**](/main-page-overview/markets/market-exchange/order-books.md) to fill trades.
* [**OTC**](/main-page-overview/otc.md) (Over-The-Counter) is a direct sale to another user without having to rely on the pricing and swap value in market exchanges and liquidity pools.