Prices fluctuate constantly based on supply and demand.

National exchanges like the NYSE and NASDAQ , as well as Over-the-Counter (OTC) markets. Key Benefits

Selling securities to a small group of select investors. Participants Issuers: Corporations or governments raising funds.

Focused on long-term financing, distinguishing them from short-term "money markets".

Allows investors to quickly convert their investments back into cash.

Includes stocks (equity) , bonds (fixed income), and derivatives.