单选题
A primary market is a financial market in which new issues of a security, such as a bond or a stock, are sold to initial buyers by the corporation or government agency borrowing the funds. A secondary market is a financial market in which securities that have been previously issued (and are thus secondhand) can be sold.
The primary markets for securities are not well known to the public because the selling of securities to initial buyers takes place behind closed doors, gal important financial institution that assists in the initial sale of securities in the primary market is the investment bank.. It does this by underwriting securities, that is, it guarantees a price for a corporation"s securities and then sells them to tile public.
The New York Stock Exchange (NYSE), in which previously issued stocks are, traded, is the best - known example of secondary markets, although the bond markets, in which previously issued bonds of major corporations and the U.S. government are bought and sold, actually have a larger trading volume. Other examples of secondary markets are foreign exchange markets, futures markets, and options markets. Securities brokers and dealers are crucial to a well - functioning secondary market. Brokers are agents of investors who match buyers with sellers of securities; dealers link buyers and sellers by buying and selling securities at stated prices.