Market Structure and Economic Factors
Free FINRA SIE (Securities Industry Essentials) lesson in Knowledge of Capital Markets. 15 min read, ~2,294 words.
Primary market = issuer receives proceeds (IPO, follow-on, bond issuance). Secondary market = investor-to-investor. Third market = listed securities traded OTC. Fourth market = institution-to-institution via ECNs, no broker-dealer middleman. Monetary policy = the Fed (rates, reserves, open market ops). Fiscal policy = Congress and the President (taxes, spending). The...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- A3
- A4
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