So it's a very intermediated market
and I think an inefficiently intermediated market
Driven by their experienced founder, Renuka Ramnath, Multiples has a strong reputation in the Indian private equity industry as a leader in attracting deal flow in a mature and well intermediated market
Since its launch in October of last year, it has proved to be an extremely popular offering within the intermediated market
and we are pleased to be able to further improve that offering today.
nThe European banking sector has an intermediated market
Direct trade exists if the frictions (delay cost and fee) are sufficiently low and, when it does, the supply and demand in the intermediated market will be `interdependent'.
A single middleman is chosen to represent the intermediated market as a whole.
Ironically, Bauer and Yamey (1968), who argue that intermediated markets are efficient, implicitly recognise the necessity for a mechanism for disintermediation in emphasising the role of producer cooperatives in enabling sellers (and buyers) to by-pass the middleman.
The central finding of this paper is that intermediated markets exhibit interdependence between supply and demand if sellers and buyers have a direct trade alternative.
Securitization refers to the transformation of an asset that once had no secondary market into a tradeable security with active secondary markets; it is the transformation of a market where financial intermediaries hold loans on their books and fund them by issuing distinct liabilities, an intermediated market, into an over-the-counter and ultimately an auction market where the assets themselves are traded.
However, in an intermediated market securities are not formed and distributed.
Recall that in an intermediated market, each of these stages of the process is either internalized or eliminated.