Szekundárpiacon

Szekundárpiacon, which translates to "secondary market" in English, refers to the marketplace where previously issued securities, such as stocks, bonds, or other financial instruments, are traded between investors. This is distinct from the primary market, where new securities are first offered for sale by the issuer directly to investors. In the secondary market, the original issuer is not directly involved in the transaction; instead, it facilitates the buying and selling of existing ownership stakes or debt.

The most common examples of secondary markets are stock exchanges like the New York Stock Exchange (NYSE) or Nasdaq, where shares of publicly traded companies are bought and sold daily. Other secondary markets exist for bonds, options, futures, and even collectibles or real estate. The existence of a liquid secondary market is crucial for the primary market to function effectively. Investors are more likely to purchase securities in the primary market if they know they can easily sell them later in the secondary market if needed.

Prices in the secondary market are determined by supply and demand, reflecting investor sentiment, company performance, economic conditions, and a multitude of other factors. These markets provide price discovery, liquidity, and an avenue for investors to adjust their portfolios. Transactions in the secondary market do not generate new capital for the issuing entity but rather transfer ownership from one investor to another.