Jälkimarkkinakauppa

Jälkimarkkinakauppa refers to the trading of financial instruments after their initial issuance or offering. This typically occurs on secondary markets, such as stock exchanges or over-the-counter markets. When a company issues shares or bonds for the first time, this is called the primary market. After these securities are sold to investors, they can be bought and sold among investors in the secondary market.

The existence of a liquid secondary market is crucial for the primary market to function effectively. Investors are more willing to purchase new securities if they know they can later sell them if needed. Jälkimarkkinakauppa provides price discovery for securities, as the continuous trading reflects the current market valuation based on supply and demand, company performance, and broader economic conditions.

Examples of instruments traded in the secondary market include stocks, bonds, options, futures, and exchange-traded funds (ETFs). Stock exchanges like Nasdaq and the New York Stock Exchange are prime examples of secondary markets. For bonds, trading often happens over-the-counter between financial institutions. The activity in the jälkimarkkinat allows for ongoing liquidity, enabling investors to adjust their portfolios, take profits, or exit positions. It also plays a role in the capital allocation process of an economy.