Secondary market

Secondary market
The secondary financial market is where outstanding securities can be traded until their maturity. It is the stage following the primary financial market: every security starts in the primary market and, after its issue and placement, moves to the secondary market, which covers all transactions after the auction; in other words, the existence of a secondary market ensures that securities can be sold prior to their maturity at market price. Logically, the two markets (which significantly vary in size) are opposites, but they handle the same goods, therefore more liquidity in the secondary market allows for more securities in the primary market.
Gruppo Banca IFIS
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