Financial instrument such as stocks and bonds.
PRIMARY VERSUS SECONDARY MARKETS
Market in which new security issues are first sold to investors;issuers receive the proceeds from the sale.•
Initial public offering (IPO)
The first sale of a company’s stock to the generalpublic.•
Financial specialists who handle the sales of mostcorporate and municipal securities.•
Process of purchasing an issue from a firm or government andthen reselling the issue to investors.
Market in which existing security issues arebought and sold by investors.•