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This article is only for popularization of knowledge and does not have any investment tendency. Investment is risky, so investment should be done with caution .
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When reading some financial news, you will hear the term secondary market. What is the secondary market?
The secondary market, also known as the secondary market, refers to the place where issued investment products are traded among investors. It's like buying and selling things in the secondary market. In the secondary market, you can buy existing investments. For example, the stock market is a typical secondary market, and the same applies to the bond fund market.
Who are the buyers and sellers in the secondary market?
Core position of secondary market seller
(1) Brokerage-Industry Research Center
(2) Fund company - sales post
Core positions of buyers in the secondary market
(1) Secondary market funds (public and private funds)
(2) Insurance company-asset management department
(3) Securities firms/commercial banks-asset management department
What is the relationship and difference between primary and secondary markets?
The primary market and the secondary market are in a continuous relationship. Only when stocks are sold in the primary market can they be circulated to the secondary market for resale. Investors can buy and sell each other in the secondary market. The main differences include,
Trading objects , the trading objects in the primary market are newly issued stocks or bonds, while the trading objects in the secondary market are already issued stocks or bonds
Nature of transactions : primary market transactions are direct exchanges between companies and investors, while secondary market transactions are purchases and sales between investors.
Market mechanism , the primary market is organized by companies and usually requires review and approval by regulatory agencies. The secondary market is conducted on exchanges and follows the trading rules of the exchange.
To sum up, the primary market is related to the direct financing of companies, while the secondary market focuses more on buying and selling transactions between investors. These two markets complement each other in the financial system and together constitute a complete capital market.
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