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Securities market is a component of the wider financial market where securities can be bought and sold between subjects of the economy, on the basis of demand and supply. Securities markets encompases equity markets, bond markets and derivatives markets where prices can be determined and participants both professional and non professionals can meet. Securities markets can be split into two levels. Primary markets, where new securities are issued and secondary markets where existing securities can be bought and sold. Secondary markets can further be split into organised exchanges, such stock exchanges and over-the-counter where individual parties come together and buy or sell securities directly. For securities holders knowing that a secondary market exists in which their securities may be sold and converted into cash increases the willingness of people to hold stocks and bonds and thus increases the ability of firms to issue securities. There are a number of professional participants of a securities market and these include; brokerages, broker-dealers, market makers, investment managers, speculators as well as those providing the infrastructure, such as clearing houses and securities depositories. A securities market is used in an economy to attract new capital, transfer real assets in financial assets, determine price which will balance demand and supply and provide a means to invest money both short and long term. ==Conditions== A securities market is a system of interconnection between all participants (professional and nonprofessional) that provides effective conditions: * to attract new capital by means of issuance new security (securitization of debt), * to transfer real asset into financial asset, * to invest money for short or long term periods with the aim of deriving profitability. * commercial function (to derive profit from operation on this market) * price determination (demand and supply balancing, the continuous process of prices movements guarantees to state correct price for each security so the market corrects mispriced securities) * informative function (market provides all participants with market information about participants and traded instruments) * regulation function (securities market creates the rules of trade, contention regulation, priorities determination) * Transfer of ownership (securities markets transfer existing stocks and bonds from owners who no longer desire to maintain their investments to buyers who wish to increase those specific investments. * Insurance (hedging) of operations though securities market (options, futures, etc.) 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「securities market」の詳細全文を読む スポンサード リンク
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