Who are secondary market participants in a stock exchange

1. Stock exchange is a platform for listing securities, discovering their price, trading securities and sharing information. (BSE and NSE)

2. All stock market trades are conducted through the members of the exchange, called brokers for a fee or ‘brokerage’.

3. Issuers are companies that list their securities on the stock exchange after meeting listed criteria and signing the listing agreement with the exchange. (HDFC Bank, RIL)


4. Clearing Corporation enables settlement of funds or money and securities between buyer and seller (NSCCL, ICCL).

5. Investors open demat accounts with members of the depositories, called depository participants to hold their securities and settle their trades.

(Content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)