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A few had more organized origins, with statutory constitutions to direct their workings. But whatever the location, they were formed in response to an increase in the number of people anxious to dispose of some short of financial asset and of buyers prepared to put their savings into them. Even the earliest forms of market conferred on users the essential benefits of reducing the time, trouble and cost of looking for a buyer or seller. (The Securities Market, W.A. Thomas, 1989)
Stocks and bonds are bought and sold in two kinds of marketplaces: Primary markets and secondary markets. Primary market is that a market where firms sell new securities issued publicly for the first time...
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