secondary market
Post-issuance trading venue
A secondary market is where previously issued securities trade between investors, as opposed to the primary market where securities are first sold by issuers.
Stock exchanges are secondary markets—when you buy shares of a company, you're typically buying from another investor, not from the company itself: Most trading happens on the secondary market.
The term extends beyond finance to any market for used or resold goods: There's a thriving secondary market for concert tickets.
Ownership stakes or inventory
- bondsTies that unite
- sharesUnits of company ownership
- securitiesTradeable financial assets
- ETFsExchange-listed investment baskets
mutual funds · derivatives · options · futures · commodities · blue-chip · penny stocks · growth stocks
Largest equities market
- NASDAQElectronic securities exchange
- London Stock ExchangeUK's primary securities marketplace
- Tokyo Stock ExchangeJapan's primary securities market
- over-the-counterBuyable without medical authorization
OTC · electronic trading · listed · trading floor · ticker · after-hours trading · circuit breaker · delisting
Already had an owner
- used goodsPre-owned items for sale
- consignmentBatch delivered for selling
- thrift storeStore selling donated goods
- vintageQuality from past eras
eBay · Craigslist · Facebook Marketplace · auction · garage sale · estate sale · pawnshop · swap meet
Transaction-facilitating service
- dealersThose who sell merchandise
- tradersProfessional buyers and sellers
- transactionsExchanges of value
- exchangeMutual giving and receiving
clearinghouse · broker-dealers · arbitrage · volume · buying · selling · settlement · matching
Amount of space filled
- buyersThose who obtain goods
- sellersThose who offer wares
- tradeableAble to be exchanged
- depthDistance below surface
turnover · float · availability · demand · supply · convertibility · exit strategy · slippage
Organizations investing pooled funds
- retail investorsNon-institutional securities buyers
- shareholdersOwners of company stock
- portfolio managersThose directing investment funds
- hedge fundsPooled alternative investment vehicles
pension funds · analysts · speculators · day traders · broker-dealers · custodians · underwriters · regulators
stocks
Ownership stakes or inventory
- bondsTies that unite
- sharesUnits of company ownership
- securitiesTradeable financial assets
ETFs · mutual funds · derivatives · options · futures · commodities · blue-chip · penny stocks · growth stocks · value stocks
NYSE
Largest equities market
- NASDAQElectronic securities exchange
- London Stock ExchangeUK's primary securities marketplace
- Tokyo Stock ExchangeJapan's primary securities market
over-the-counter · OTC · electronic trading · listed · trading floor · ticker · after-hours trading · circuit breaker · delisting
pre-owned
Already had an owner
- used goodsPre-owned items for sale
- consignmentBatch delivered for selling
- thrift storeStore selling donated goods
vintage · eBay · Craigslist · Facebook Marketplace · auction · garage sale · estate sale · pawnshop · swap meet · classifieds
brokerage
Transaction-facilitating service
- dealersThose who sell merchandise
- tradersProfessional buyers and sellers
- transactionsExchanges of value
exchange · clearinghouse · broker-dealers · arbitrage · volume · buying · selling · settlement · matching · counterparty
volume
Amount of space filled
depth · turnover · float · availability · demand · supply · convertibility · exit strategy · slippage
institutional investors
Organizations investing pooled funds
- retail investorsNon-institutional securities buyers
- shareholdersOwners of company stock
- portfolio managersThose directing investment funds
hedge funds · pension funds · analysts · speculators · day traders · broker-dealers · custodians · underwriters · regulators · SEC
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