In the secondary market, fund managers or any investors who wish to buy securities or debts must find a seller. Transactions are facilitated via a central market, together with a stock exchange or over-the-counter . Unlike the first market, where there might be an preliminary issuance of debt or fairness in change for capital, the secondary market permits for the sale and trade of issued bonds and shares. The secondary market permits players to enter and exit securities easily, making the market liquid.
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