(The financial marketplace: Securities Markets) A security is a negotiable instrument that represents a financial claim. Securities markets are of two forms. A ▼ primary secondary market is a market in which new securities are bought and sold for the first time. The ▼ primary secondary market is where all subsequent trading of previously issued securities takes place.

Primary,secondary

Explanation:

The capital market also known as the primary market is the market where new securities are traded.Merchant banks or investment banks serve as issuing houses in the market by serving as a link between investors and issuers of securities. These firms usually buy the entire issue of securities from the borrowing company at a price less than the face value of securities by promising that the entire issue would be sold in order to realize the needed funds.

However,the secondary market also known as the money market is where existing securities exchange hands between buyers and sellers.

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explanation: