Many exchange-listed securities are also traded in the over-the-counter market.Trading of this sort is said to take place in the ___________.

Question

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The third market refers to the trading of exchange-listed securities outside of the primary exchanges, such as on electronic communication networks (ECNs) or regional exchanges. The over-the-counter market is also considered part of the third market. The fourth market refers to direct trading between institutional investors, bypassing the exchanges altogether. The after-market generally refers to trading that occurs outside of regular market hours. The block market refers specifically to the trading of large blocks of securities by institutional investors.

Many Exchange-Listed Securities Are Also Traded in the Over-The-Counter Market