Abstract
The secondary market for federal securities is the economically most important and the most liquid spot market segment of European securities markets. In Germany, the organization of federal securities trading in the secondary market has evolved historically through parallel on-and off-exchange (over the counter, OTC) structures. Generally, three differently structured trading possibilities for federal securities can be identified:
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• Exchange trading
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• Bilateral OTC trading
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• Brokered OTC trading.
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© 2006 Deutscher Universitäts-Verlag | GWV Fachverlage GmbH, Wiesbaden
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(2006). The Organizational Structure of the Secondary Market for Federal Securities: Historically grown! Economically justified?. In: The Microstructure of European Bond Markets. Gabler. https://doi.org/10.1007/978-3-8350-9268-6_2
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DOI: https://doi.org/10.1007/978-3-8350-9268-6_2
Publisher Name: Gabler
Print ISBN: 978-3-8350-0423-8
Online ISBN: 978-3-8350-9268-6
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