Definition of third market
: the over-the-counter market in listed securities
First Known Use of third market
Financial Definition of THIRD MARKET
What It Is
How It Works
The third market is an OTC venue in which brokers and institutional investors (e.g., insurance companies and mutual funds) trade securities listed and publicly traded on a registered exchange (e.g., NYSE or AMEX). Unlike most exchange trading, buyers and sellers in the third market trade with each other for the benefit of their own portfolios rather than in an agency capacity on clients' behalf.
Learn More about third market
Seen and Heard
What made you want to look up third market? Please tell us where you read or heard it (including the quote, if possible).