Third market


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Third market

Third Market

The trading of listed securities on the over-the-counter market. The third market avoids the commissions that must be paid to floor brokers. Most of the time, trades on the third market are large block trades involving institutional investors. Dealers must fill orders on the exchange before offering them over-the-counter.

third market

The over-the-counter dealer market in stock that is listed on organized exchanges such as the New York Stock Exchange. The third market developed in the 1960s when institutional investors became dissatisfied with the liquidity and brokerage commissions for large security trades on the exchanges. Compare fourth market, secondary market.

Third market.

Exchange-listed securities, such as those that are traded on the New York Stock Exchange (NYSE) or the American Stock Exchange (AMEX), may also be bought and sold off the exchange, or over-the-counter (OTC), in what is known as the third market.

Typically, third-market transactions are large block trades involving securities firms and institutional investors, such as investment companies and pension funds.

With the growth of electronic communications networks (ECNs), more institutional investors are buying and selling in this way. Among the appeals of the third market are speed, reduced trading costs, and anonymity.

References in periodicals archive ?
Safer securitization, strengthening the third market
Josef Schellhorn also calls for this to be facilitated by raising the capital of SMEs and strengthening the Third Market. It should be possible for small and medium-sized enterprises to obtain capital from securities on the unregulated market, according to the approach of the business spokesman of NEOS.
Clients using Fifth Third Market Trade will continue to have access to a professional risk management representative as a resource.
Fifth Third Market Trade is accessible through Fifth Third Direct and provides an easy-to-navigate electronic trade process.
The third market of the VSE has been unregulated since November 2007 and operates as a multilateral trading system (MTF).
The Second Market is made up of PC-savvy consumers who don't freak when they see "select COM port." The Third Market consists of consumers who do.
VSE's Third Market has less stringent listing rules than the regulated Official Market or Second Regulated Market and much lower fees.
Besides potential for investment, they also analyzed possibilities for joint participation in European projects and joint capturing of third markets, the final effect of which is expected to be increased trade between the two countries.
The officials agreed that there is a great opportunity for investment in joint production and access to third markets.
Cammack, Phoenix Third Markets, Netmatrix Corporation, and Dozortsev & Son.
Turkish investments in Macedonia, which total about a billion euros, and Dutch investments of more than 400 million euros capturing third markets as partners was one of the topics discussed at the meeting of the Economic Chamber of Macedonia-Turkey (MATTO).
According to Minister Jakovina, trade between the two countries has been made proportionate and now effort should be made to jointly capture third markets, especially because the two countries share the same tradition, history and culture.