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Topic: Secondary markets



  
 Secondary markets - definition of Secondary markets in Encyclopedia
It is therefore important that the secondary market be highly liquid and transparent.
The secondary market (also called "aftermarket") is the financial market for trading of securities that have already been issued in its initial private or public offering.
Stock brokers see the secondary market as the retail part of their business.
http://encyclopedia.laborlawtalk.com/Secondary_markets   (244 words)

  
 Financial markets - Wikipedia, the free encyclopedia
Bond markets, which provide financing through the issuance of bonds, and enable the subsequent trading thereof.
Money markets, which provide short term debt financing and investment.
Derivatives markets, which provide instruments for the management of financial risk.
http://en.wikipedia.org/wiki/Financial_market   (1251 words)

  
 FinAid Student Loans Secondary Markets
Indiana Secondary Market for Education Loans, Inc. (ISM) is the state secondary market for Indiana.
Student Loan Finance Corporation (SLFC) is a secondary market for student loans in South Dakota.
Wyoming Student Loan Corporation (WSLC) is a secondary market for Wyoming.
http://www.finaid.org/loans/secondarymarkets.phtml   (3045 words)

  
 [No title]
Secondary market transactions involve the sale of already issued securities; that is, when the investor who originally bought the stock or bond sells it to another entity, usually another investor.
This is a secondary market transaction (I acquire funds from the mutual fund and the fund acquires the shares.
Primary market transactions involve the initial sale of securities, when stocks and bonds are first sold to the public.
http://www.wam.umd.edu/~spearlma/Econ435/markets_notes.doc   (835 words)

  
 Investment Concepts
New securities may trade repeatedly in the secondary market, but the original issuers will be unaffected in the sense that they receive no additional cash from these transactions.
A primary market is one in which a borrower issues new securities in exchange for cash from an investor (buyer).
In the United States secondary markets are indispensable to the proper functioning of the primary markets.
http://learningforlife.fsu.edu/course/fp101/InvestmentConcepts.htm   (4987 words)

  
 Federal Home Loan Bank Board Journal: Secondary mortgage markets: recent trends and research results
More recently, selling loans in an active secondary market has provided institutions a way to continue to be mortgage lenders without incurring the risk of adding long-term, fixed-rate loans to their portfolios.
For example, from 1963 to 1965 (before the first period of disintermediation in 1966 and before the development of an organized secondary market for conventional loans), the spread between conventional mortgage rates on loans closed and rates on 10-year US government bonds ranged from 153 to 193 basis points.
Talk of the integration of the mortgage market into the general capital markets, which had been prevalent in financial circles since at least the mid-1970s, became a reality by the early 1980s.
http://www.findarticles.com/p/articles/mi_m6201/is_n3_17/ai_3209769   (1465 words)

  
 Market Status Report: Secondary Material Export Markets
The volatility of overseas secondary materials markets is based on a number of factors, most of which are beyond the control of government or private enterprise, and difficult to predict with any certainty.
While this debate is important, the current reality of secondary material markets in California is that large quantities of material from California and other states are exported through California because transportation costs to domestic markets are prohibitive, domestic markets are not available, or foreign markets provide better prices than domestic markets.
The most important force driving the value of many secondary materials in foreign markets is their importance as primary sources of feedstocks for industrial operations.
http://www.ciwmb.ca.gov/Markets/StatusRpts/Exports.htm   (3019 words)

  
 Archived - Impact of the Administration Student Loan Interest Rate Proposal on Small Banks
Their profitability is determined by their overall arrangements with the secondary markets, not just by the interest rates on the loans.
The role of small banks as marketing arms for secondary markets is dependent on the continued profitability of the secondary markets.
Since secondary markets have competitive advantages over banks, such as the some $15 billion in tax-exempt funding for those other than Sallie Mae, there is no reason that an interest rate sufficient for large banks would not be sufficient for them also.
http://www.ed.gov/offices/OPE/PPI/Reauthor/smallban.html   (503 words)

  
 Secondary Markets for City-Owned CDBG Loans
Secondary Markets for City-Owned CDBG Loans, a new report from HUD's Office of Policy Development and Research, examines the potential of secondary markets for CDBG rehabilitation loans.
However, nine case studies of localities that have turned to the secondary markets indicate that potential investors are likely to consider many of the loans to be "low-quality" because of below-market interest rates, relatively long terms, unusually high loan-to-value ratios, or borrowers with poor credit or uneven loan repayment histories.
The national secondary market institutions studied in this report -- Fannie Mae and Neighborhood Housing Services of America (NHSA) -- have purchased some loans, but have not yet successfully devised a plan to market CDBG loans to their investors.
http://www.huduser.org/publications/hsgfin/secmkts.html   (356 words)

  
 Secondary Markets
Secondary market trading in equities in July 1994 began to be carried out in separate 2-hour sessions, one being in the morning and one in the afternoon.
In June, 1991, a new secondary Bonds and Bills Market based on a screen-trading system was inaugurated.
Takasbank, as a part of its policy of contributing to the transparency of the securities markets, has been providing custody services on a customer basis since February, 1995.
http://www.turizm.net/economy/second~1.htm   (402 words)

  
 CCH Business Owner's Toolkit Secondary markets
Likewise, secondary markets also provide investors with the opportunity to purchase certain investments at varying terms that are not otherwise available in the primary market.
The proceeds from a sale in a secondary market go to the investor, not to the company or entity that originally issued and sold the investment.
Secondary markets give investors the opportunity to sell certain investments when they don't want to hold the investment to its full maturity.
http://www.toolkit.cch.com/pops/P99_06_4636_01.asp   (208 words)

  
 SBA Testimony - Jane Butler - SBA’s SECONDARY LOAN MARKETS
Expediting the receipt of information on loans that were sold in the secondary market allowed SBA to make more timely decisions with the participating lender to determine the appropriate servicing action.
This determination improved the marketability of the security by providing investors with a direct claim to SBA if the borrower defaulted or if the lender did not send a payment to the investor.
These changes permitted growth in the secondary market and encouraged securities dealers to create a market in SBA guaranteed loans.
http://www.sba.gov/regulations/testimony/butler.html   (1587 words)

  
 Secondary Markets Letter -- 03-07-2002
Commission action authorizing leasing and other secondary market activities is consistent with the market-based spectrum management approach that the Commission has been pursuing with great success.
As the NPRM correctly notes, it is essential to establish the right rules of the road for these secondary market relationships so that such use maximizes, rather than detracts from, efficient spectrum use.
  A primary benefit of secondary market arrangements is that they are designed to put spectrum to its most highly valued use.
http://www.ntia.doc.gov/ntiahome/fccfilings/2002/secmarkets_030702.htm   (2074 words)

  
 Money and Banking
Equity markets – Issue equities, which are claims to the net income and assets of a business (share of ownership)
Secondary marketsMarkets in which previously traded (issued) securities are resold
Financial futures markets – The market for financial claims, which are purchased in the future according to present agreements (predetermined price)
http://garnet.acns.fsu.edu/~fdv3471/fmbmp02.html   (1542 words)

  
 Markets Demystified
The word "market" can have many different meanings, but it is used most often as a catch-all term to denote both the primary market and the secondary market.
In fact, "primary market" and "secondary market" are both distinct terms that refer to the market where securities are created and the one in which they are traded among investors, respectively.
That is, in the secondary market, investors trade previously-issued securities without the involvement of the issuing companies.
http://www.taxopedia.com/articles/02/101102.asp   (1404 words)

  
 Primary and Secondary Markets (from stock market) --  Britannica Student Encyclopedia
The money market is, therefore, different from the capital market, which is concerned with medium- and long-term credit.
The definition of money for money market purposes is not confined to bank notes but includes a range of assets...
A fair is a temporary market where buyers and sellers gather to transact business.
http://www.britannica.com/ebi/article-210612?tocId=210612   (722 words)

  
 On the Menu: Secondary Office Markets
In light of the nosebleed prices being paid for quality office properties in major cities, private investors in particular are pursuing alternative deals in secondary markets, loosely defined as metros that are not ranked among the top 25 in terms of total office inventory.
The price was on the high side for this market, according to one local broker.
Many REITs simply found themselves owning assets in smaller markets as a result of mergers, says Torto, and in the go-go days of the late 1990s there was no sense of urgency to sell because the economy was booming.
http://nreionline.com/mag/real_estate_menu_secondary_office   (2036 words)

  
 Secondary Markets Offer First-Class Investment Opportunities
As a secondary market, the city has much in common with its smaller-city peers: a high quality of life, plenty of outdoor offerings, numerous educational and employment opportunities, plus housing prices that are a relative bargain.
Driving this local market is a business base that includes Dell Computers, Devon Energy Corp. and other local companies that have made Oklahoma City one of the nation's hottest secondary markets.
A large chunk of this capital is coming from long-time apartment owners in the Los Angeles and San Diego markets looking to cash in at the attractive prices in those markets and relocate their capital through 1031 exchanges to assets in smaller markets that have more upside.
http://www.multihousingnews.com/multihousing/reports_analysis/feature_display.jsp?vnu_content_id=1000740708   (1408 words)

  
 Statement of Commissioner Harold Furchtgott-Roth Regarding FCC's Public Forum on Secondary Markets in Spectrum
In a market with full property rights, businesses are fully capable of developing secondary spectrum markets on their own.
I encourage all parties to contribute their thoughts on these rules and other secondary market issues as part of this year's biennial review proceeding.
Thus I believe today's forum should most productively focus on removing government barriers to secondary markets, as opposed to creating any new government structures "to make the market work." The market works just fine if government stays out of the way.
http://www.fcc.gov/Speeches/Furchtgott_Roth/Statements/2000/sthfr022.html   (312 words)

  
 Developing a Secondary Market for Small Business Loans
Where secondary markets have been slow to develop, the high cost of transactions seems to be a major inhibitor.
Efficient secondary markets can also reduce costs to borrowers by increasing liquidity for loans and providing lenders with access to a broader pool of capital.
Any secondary market in small business loans is likely to be much smaller than the market for residential mortgages.
http://www.cbo.gov/showdoc.cfm?index=5013&sequence=0   (1230 words)

  
 RMALA
The contribution formula is generally 1% of the gross revenue [directly] received from the applicable supplemental market(s), minus certain allowed deductions.
Residual obligations to contribute to the Secondary Markets Fund are triggered only if a theatrical film or television production generates revenue in one or more of the supplemental markets.
A 1996 Low-Budget Independent film with a Domestic box office gross of $103 million, Foreign box office of $70 million—none of which resulted in any payments to the Fund— has contributed a cumulative total of $335,000 to the Secondary Markets Fund only as a result of pay TV, free TV and substantial cassette revenues.
http://www.rmala.org/SpPay/Special.asp   (549 words)

  
 RISMedia - Residential Real Estate's Largest Independent News & Information Service - Immediate access to industry ...
Baker is the author of the bill and the chairman of the Capital Markets, Insurance and Government-Sponsored Enterprises Subcommittee.
Meanwhile, the Mortgage Bankers Association (MBA) said the bill would give the new regulator authority to establish a clear definition of the secondary mortgage market and of mortgage loan origination, and would establish a boundary between the primary and secondary mortgage markets.
RISMEDIA, May 26 -- The House Financial Services Committee this week strengthened the regulation of the nation’s secondary mortgage markets, passing the Federal Housing Finance Reform Act of 2005 by a vote of 65-5.
http://www.rismedia.com/index.php/article/articleview/10460/1/1   (772 words)

  
 An Economic Analysis of Electronic Secondary Markets(Ravi Aron and Arun Sundararajan) -- summary and downloads
Surprisingly, we find that in a number of cases, the presence of these markets has a primary positive effect on the profitability of a new good; this leads us to conjecture that there will soon be a number of such trading forums operated by manufacturers of primary goods.
Abstract: The Internet has spawned a number of partially structured electronic secondary markets, which enable the trading of secondary goods between consumers.
Many of these, such as Usenet groups, or WWW sites for niche products, tend to be self-administering; however, there has been significant recent growth in the number of more general web-based markets of this kind.
http://oz.stern.nyu.edu/papers/esm.html   (254 words)

  
 [No title]
P‡>óeBŸ¨What is the Secondary Market?¡Ÿ¨$ Lenders have a choice between keeping the loans they originate in their portfolio or passing the loan on to the secondary market (another way to fund mortgages is to seek investors who specifically want to invest in mortgages).
The secondary market absorbs the default risk (a good thing).
FHA/VA loans have little risk and hence can be passed to the secondary market quite easily.
http://gsbwww.uchicago.edu/fac/erik.hurst/teaching/r_lecture_7_2005.ppt   (1502 words)

  
 Terra Nova: Secondary markets: $880 million
"The market as a whole is sized at $9 billion in the U.S., with membership fees at $4.2 billion, service fees at $0.9 billion, and virtual property transactions at $3.9 billion.
It seems that increased developer sponsorship and acknowledgement of the secondary markets is coming next as is larger corporate investment and funding.
The market is a *lot* bigger than most people will admit to.
http://terranova.blogs.com/terra_nova/2004/10/secondary_marke.html   (5474 words)

  
 The U.S. Mortgage Market: A Model of Dueling Charters, from Fannie Mae - Business White Papers, Webcasts and Case ...
Of the two major charters in the industry, one is for depositories (banks and thrifts), which have been traditionally identified as the primary market, and the other is for the government-sponsored enterprises, which operate a secondary market.
The competition between the charters can be modeled as the balance between the lower costs of the secondary market and the selection advantages of the primary market.
Overview: Understanding mortgage markets requires understanding the changing roles of and the competition between the primary and secondary markets.
http://jobfunctions.bnet.com/whitepaper.aspx?&scid=1737&docid=63128   (521 words)

  
 Mortgage-Backed Securities Markets in Asia - ADB.org
Until this study was made, there had been no thorough examination of the reasons why the mortgage-backed securities markets have not developed, nor of the feasibility of introducing mortgage-backed securities in the region's bond markets.
Banks in financial distress can improve their capital adequacy and liquidity ratios by selling their assets, both performing and nonperforming, through asset securitization.
Development of a Secondary Mortgage Market and Asset Securitization in Thailand
http://www.adb.org/Documents/Books/Mortgage_Backed_Securities_Markets   (582 words)

  
 ACA Capital : Secondary Markets
ACA Financial Guaranty Corporation provides municipal bond insurance for higher yielding municipal securities in the secondary market.
ACA Financial Guaranty Corporation's Secondary Market Credit List provides information on each issue that ACA has available capacity to insure in the secondary market.
For secondary market quotes, please provide: credit name, CUSIP and par amount with each inquiry.
http://www.aca.com/muni/secondary   (100 words)

  
 FASTNET Opens 20th Customer Network Facility in Worcester, Mass.
The additional new markets will give FASTNET a total of 27 operational secondary markets by year-end.
Over the past five years the Company has been providing Internet services to a growing number of customers that are located outside of the major markets, where businesses typically find it challenging to locate a single source solution for their Internet and data communications needs.
About FASTNET Corporation FASTNET(R) is a business Internet service, web hosting and colocation provider based in Bethlehem, Pa. The Company is building broadband infrastructure in high-growth secondary markets to provide high-speed, dedicated and reliable Internet and data communications services to small and medium sized enterprises (SME).
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/07-31-2000/0001279305&EDATE=   (823 words)

  
 Insurance Products - Secondary Markets Support
To assist lenders in selling their mortgage loans to the secondary market, AIG United Guaranty's Directors of Capital Markets match lenders and investors to negotiate the most favorable prices.
These specialists stay abreast of investor requirements and other capital markets issues, and lenders depend on this knowledge to successfully complete their loan sales.
As an additional service to lenders, we maintain a secondary marketing database, the Targeted Investor Pre-Qualification System (TIPS).
http://www.ugcorp.com/secmktssupp.html   (101 words)

  
 DRLP: Ohio's Secondary Markets for Recycled Materials
After collection, these materials must be processed or prepared to specifications to meet market requirements.
We call this stage of processing and brokering the secondary markets stage.
Some of these processors and brokers may also be collectors and/or end users.
http://www.dnr.state.oh.us/recycling/pages/secondary.htm   (221 words)

  
 Document: Statement Furchtgott-Roth re Secondary Markets for Spectrum Rights, 11/9/00.
And it is consumer demand, not the ease of supply, that creates a market.
This NPRM and the Policy Statement take important steps in the right direction, to make those markets a little less obscure, a little less complicated, a little bit more efficient.
Document: Statement Furchtgott-Roth re Secondary Markets for Spectrum Rights, 11/9/00.
http://www.techlawjournal.com/telecom/20001109fr.asp   (887 words)

  
 IGE President on the Emerging Secondary Market for MMOs
SS: The worldwide market is approaching a billion dollars in annual revenues and millions of gamers are involved.
We earn revenue in the open market by offering a secure network that includes an exchange platform site and direct buying and selling sites where independent buyers and sellers can engage in transactions.
Secondly, it has only been over the last 18 months or so that professionally managed and committed companies like IGE have emerged within the secondary market and begun seeking solutions to the issues.
http://biz.gamedaily.com/features.asp?article_id=9595§ion=interview&email=   (1429 words)

  
 The Bond Market Association
In response to FSA's discussion paper on trading transparency in the UK secondary bond markets, five fixed-income trade groups conclude there is extensive price transparency in the European markets, and strongly believe the current, competitive market structure provides investors appropriate levels of transparency across market segments.
Conference speakers, including keynote speaker Sharon Rowlands, CEO of Thomson Financial, explored new technological innovations in the fixed-income markets.
The Association also unveiled its Review of Electronic Transaction Systems, showing that the rise of e-trading contributes substantially to price transparency.
http://www.bondmarkets.com   (419 words)

  
 Financial Security Assurance Inc. Products Municipal Secondary Markets
To inquire about secondary insurance for a specific position, select Municipal Secondary Market from the Contact menu or call Greg Haggerty or Alan Steinfeld at (212) 893-9600.
Underwriting standards are the same as for new issues.
> Home > Products > Municipal > Municipal Secondary Markets
http://www.fsa.com/products/municipalsec.php   (92 words)

  
 The World Factbook 2004 -- Peru
Risk premiums on Peruvian bonds on secondary markets reached historically low levels in late 2003, reflecting investor optimism and the government's fiscal restraint.
Despite the strong macroeconomic performance, political intrigue and allegations of corruption continued to swirl in 2003, with the TOLEDO administration growing increasingly unpopular, and local and foreign concern rising that the political turmoil could place the country's hard-won fiscal and financial stability at risk.
Moreover, as of late 2003, unemployment had yet to respond to the strong growth in economic activity, owing in part to rigid labor market regulations that act as an impediment to hiring.
http://www.brainyatlas.com/geos/pe.html   (1378 words)

  
 DFMv1
How Are Debt Securities Valued in the Secondary Market?
Debt and Equity Financial Instruments in the Capital Market
How Are Share Prices Determined in the Secondary Market?
http://www.unitar.org/dfm/assessmentreport2002/harare/Bibliography.htm   (230 words)

  
 FCC: Secondary Markets Initiative
FCC Announces Agenda for Public Forum on Secondary Markets in Radio Spectrum
Principles for Promoting the Efficient Use of Spectrum by Encouraging the Development of Secondary Markets
Promoting Efficient Use of Spectrum Through Elimination of Barriers to the Development of Secondary Markets
http://wireless.fcc.gov/licensing/secondarymarkets   (703 words)

  
 Student Loan Secondary Markets
Indiana Secondary Market for Education Loans, Inc. (IN)
Southwest Student Services Corporation and Arizona Educational Loan Marketing Corp. (AZ)
New England Education Loan Marketing Corporation, (MA) (***)
http://www.consumersunion.org/other/chartwc1098.htm   (130 words)

  
 standard lending deviation table and other lending related information
Subprime Lending in the Primary and Secondary Markets
http://www.nethorde.com/lending/standard-lending-deviation-table.html   (270 words)

  
 CUNA
Comparison of the Primary and Secondary Markets - This is a topic-by-topic comparison of the two major "markets" for securities-- the primary and the secondary markets.
Investment Earnings - What are the different ways your investments can make you money?
Last, the tutorial explains the risks that are both common and unique to each type of market.
http://www.creditunion.coop/tutorials/tl906223151.html   (281 words)

  
 Secondary Market
A market on which an investor purchases an asset from another investor rather than an issuing corporation.
- Knowing how the primary and secondary markets work is key to understanding how stocks trade.
Here all stock exchanges are part of the secondary market, as investors buy securities from other investors instead of an issuing company.
http://www.investopedia.com/terms/s/secondarymarket.asp   (124 words)

  
 Why Rights Management is Wrong
I don't know of shareware services providing for transfer of registration, to allow resale or inheritance of their wares, but one can imagine it; for content such as books or music, satisfying the needs of the collector requires that transfers can exist.
If suppliers were compensated for providing bits, the economics would shift some; if ISPs chose to bill for 'excessive' uploading, that would change the market conditions around file-sharing.
A market for digital collectibles can exist only to the extent that the collected items can meaningfully be bought and sold in secondary markets; rights management systems which fail to account for resale foreclose a market for digital Pokemon cards or comic books.
http://www.w3.org/2000/12/drm-ws/pp/compaq.html   (3160 words)

  
 What is a stock?
Most trading is done in the secondary market, with the NYSE, Nasdaq, and AMEX being secondary markets.
The market where securities are bought and sold after they are first issued.
http://investsmart.coe.uga.edu/C001759/guide/glossary_s.htm   (597 words)

  
 GAO: Report Abstract
Pursuant to a congressional request, GAO provided information on: (1) secondary investment markets; (2) existing agricultural real estate secondary markets; (3) legislative proposals for a national secondary market for agricultural real estate loans; and (4) the potential effects of a national secondary market.
Farm Finance: Secondary Markets for Agricultural Real Estate Loans RCED-87-149BR July 17, 1987
Due to scheduled maintenance, the site will be unavailable on October 15, 2005 from 7:00 a.m.
http://www.gao.gov/docdblite/summary.php?rptno=RCED-87-149BR&accno=133488   (101 words)

  
 Freddie Mac: SMMOnline Archives
Archived publications of SMM Magazine featuring analyses of key business, economic and public-policy issues affecting the housing and mortgage-finance markets.
The Regulators' Challenge: Equal Capital for Equal Risk
Volume 14, Number 2 (annual Mortgage Market Trends 1997)
http://www.freddiemac.com/finance/smm   (401 words)

  
 Airline Ticket Prices
The second article can house the material on how auctions are airline ticket prices formally classified (first price, second price, Vickrey, and so on,) strategies for auctions, collusion, bid shading, reserve prices, secondary markets, and all sorts of other technical material.
Xtra 04:49, 6 Jan 2005 (UTC) :comment, your making it sound like its over the top for an australian, no way.
http://airline-ticket.beplaced.de/airline/ticket-prices.html   (1022 words)

  
 National Real Estate Investor: Shopping the Secondary Markets.@ HighBeam Research
The strategic shift, considered at the time to be somewhat contrarian, has only intensified.
But when cap rates in Southern California fell to 6% about two and a half years ago, the firm began to explore secondary markets such as Albuquerque, Fort Lauderdale and Denver.
National Real Estate Investor: Shopping the Secondary Markets.@ HighBeam Research
http://www.highbeam.com/library/doc0.asp?DOCID=1G1:133105108&refid=ip_almanac_hf   (205 words)

  
 Story: FCC Discusses Secondary Markets for Wireless Spectrum, 11/10/00.
Gaisford, who read a prepared statement, said that "the Policy Statement articulates four guiding principles for the Commission's efforts to match unmet demand with available supply on a secondary market."
Nevertheless, one Commissioner, Gloria Tristani, criticized the Policy Statement for not also incorporating an examination of social issues, such as diversity and local content.
She also stated that "The Policy Statement outlines three core areas of focus for the Commission's efforts in the development of secondary markets."
http://www.techlawjournal.com/telecom/20001110a.asp   (1445 words)

  
 FMSMF.org
Musicians, we are here to help you find monies owed to you.
The Film Musicians Secondary Markets Fund shall provide support to film musicians and the entertainment community worldwide, assist in establishing recognition of their work and ensure the payment of residuals generated by their services
Please read about and help our musicians in this time of need.
http://www.fmsmf.org   (138 words)

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