场外交易市场中的交易 OTC Market ■低价值证券 Lower volume securities 场外交易公告扳 OTC Bulletin board 来自NASD的粉红报单 Pink Sheets from NASD ■证券:股票,债券和衍生品 Securities: stocks bonds and some derivatives 大部分二手证券交易 Most secondary bonds transactions 3-11
3-11 场外交易市场中的交易 OTC Market 低价值证券 Lower volume securities – 场外交易公告扳 OTC Bulletin Board – 来自NASD的粉红报单 Pink Sheets from NASD 证券：股票，债券和衍生品 Securities: stocks, bonds and some derivatives – 大部分二手证券交易 Most secondary bonds transactions
级市场 Third market 在场外交易市场上交易在交易所上市的的证券 Trading of listed securities away from the exchange ■机构投资者市场:有利大宗证券的交易 Institutional market to facilitate trades of larger blocks of securities ■含有经纪人和代理人服务 Involves services of dealers and brokers 3-12
3-12 三级市场 Third Market 在场外交易市场上交易在交易所上市的的证券 Trading of listed securities away from the exchange 机构投资者市场:有利大宗证券的交易 Institutional market: to facilitate trades of larger blocks of securities 含有经纪人和代理人服务 Involves services of dealers and brokers