+6221–3503142 secretariat@cisfed.org

A secondary market is basically the market where financial instruments are traded among
investors. In the secondary market, entities issuing financial assets do not receive funds from the
buyers. Those entities, whether they are corporations or governments, also called issuers, will
already have received the funds needed when they first issue two main instruments of capital
markets, either equities or bonds, in the primary market.

*Tulisan ini diterbitkan di Islamic Finance News Annual Guide 2020 (terlampir).