Secondary Market 

The Secondary Market is a financial market where previously issued securities, such as stocks, bonds, options, and other financial instruments, are bought and sold among investors. It differs from the Primary Market, where securities are sold for the first time directly by issuers to investors (like during an IPO or private placement). 

In the secondary market, the issuing company does not receive any proceeds from the sale of its securities; instead, the transaction occurs between two investors. Examples of secondary markets include major stock exchanges like the New York Stock Exchange (NYSE), NASDAQ, and London Stock Exchange (LSE), as well as private secondary markets where shares of private companies (especially pre-IPO startups) are traded. 

Key benefits include: 

• Liquidity for investors to exit or reduce positions. 

• Price discovery based on market supply and demand. 

• Accessibility for a broader investor base.