Market Structure and Economic Factors
Free FINRA SIE (Securities Industry Essentials) lesson in Knowledge of Capital Markets. 15 min read, ~2,194 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). Leading...
Read the full lesson, free →
Worked examples, audio narration, and practice. No signup to read.
What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- A3
- A4
Browse all free SIE lessons or jump into free SIE practice questions.