Comprehensive and Detailed Explanation From Exact Extract:
The secondary market involves trading previously issued securities between investors, enabling liquidity for those who initially purchased the securities. The feedback from the document states:
"The secondary market involves the resale of previously issued securities between investors. It enables investors who originally bought the investment products to sell them and obtain cash."
[Reference:Chapter 2 – Overview of the Canadian Financial MarketplaceLearning Domain:An Introduction to the Mutual Funds Marketplace, ]
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