STOCK MARKET INTERMEDIARIES & FUNCTIONS

STOCK MARKETPlace where shares of pubic

listed companies are traded. Primary market - companies float

shares to the general public in an IPO to raise capital.

Secondary market – where securities are traded after the company has sold all the stocks offered on primary market

INTERMEDIARIESStock brokers Share transfer agentsTrustees of trust deedsRegistrars to an issueMerchant bankersUnderwritersCustodiansCredit rating agencies

FUNCTIONSProvides Liquidity & Marketability

to investment in securitiesChannelize the savings into

corporate enterprise & productive venture

Indicate the market price of securities, barometer to the economy

Ensures transparency in security transactions