Open center pumps and valves are connected in series and there is no or very little pressure in the system with all levers in neutral.
Closed center valves are installed in parallel, and there is usually full pressure or a low standby pressure at the valves. Hyd pump is at idle or unloaded.
A hyd gage in a tee at the IN port of a hyd valve will usually tell you what you what hyd system you have.
To answer the original question, about the open center remote valve.
It is a valve used in an open center hyd circuit which is a series hyd circuit, and is used in a remote location for whatever. Log splitter, BH, hay baler, hyd tiller, hyd bush hog, etc.
Do you know which hyd system you have.