secondary market
secondary market n
1: the market in which previously issued securities are sold compare primary market
2: the market in which existing mortgages are bought and sold

Merriam-Webster’s Dictionary of Law. . 1996.

secondary market
The marketplace where investors trade shares among themselves as opposed to the primary market, where an issuer originally issues shares to investors.
+ secondary market
USA
The term has a number of meanings. In the context of:
equity securities: The market where investors trade stock and similar securities among themselves as opposed to the primary market, where an issuer originally issues stock to investors.
• debt securities (debt security) and other financial instruments: The market where investors buy previously issued securities from other investors as opposed to the primary market, where investors buy new securities directly from the issuer.
• Loans: The market where lenders trade loans among themselves as opposed to the primary market, where lenders make loans to borrowers directly. The secondary market is used by lenders to free up capital and manage risk.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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