In recent years, trading in secondary markets has increasingly become a function of

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Trading in secondary markets has increasingly become a function of broker-dealer markets using consolidated venues and technologies. These markets bring together various brokers and dealers to trade in a more efficient and centralized manner. The use of technology, such as electronic trading platforms, has further facilitated the growth and efficiency of these markets. Securities exchanges are a type of broker-dealer market, but not the only one. Dealer markets are also a type of broker-dealer market, but they are losing market share to the more technologically advanced consolidated venues. Technology that bypasses brokers and dealers is not yet widely used in secondary markets.

In Recent Years, Trading in Secondary Markets Has Increasingly Become