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Micro-cap stocks trade everywhere that higher-priced stocks trade. It is true that few of them will be found in the national markets, simply because of listing requirements, previously mentioned, that include price restrictions. And while the vast majority do trade over-the-counter as a result, it is also true that alternative arrangements are sometimes made available by even the major exchanges to accommodate companies that do not meet these minimum requirements. Currently, there are a number of micro-cap listed on the NYSE and AMEX along with those in the over-the-counter market and on Nasdaq:
New York Stock Exchange (NYSE) 200  
American Stock Exchange (AMEX) 500  
National Association of Securities Dealers Automatic Quotation System (Nasdaq 3,000  
The over-the-counter market, including the Pink Sheets and the OTC Bulletin Board 4,500