Series 66: 6.1.3 Third Market

Taken from our Series 66 Online Guide

6.1.3 Third Market

Third market refers to the negotiated sale of an exchange-listed security off the exchange. This over-the-counter (off-exchange) trading of securities between broker-dealers is done by computer and telephone. Historically, this option was chosen by institutional investors such as mutual funds, insurance companies, and pension funds seeking lower trading costs and greater flexibility. Use

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