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0F THE SEC0NDARY addition agents de change Amex arbitrage Ariel auction automated banks bargain bids and offers bids or offers block transactions bonds Bourse broker-dealer brokers buyer CB0E central stock exchange client collective price commission competition connexion cost of immediacy dealers dealing domestic double auction Eurex Exchange segments execution sphere financial services floor foreign forward market in-house crossing individual prices Instinet institutional investors interest investor protection issuers jobbers limited orders listed securities Luxembourg market makers market organizers market system market value member firms NASD Nasdaq NYSE odd-lot opening price option parallel markets principal market principle procedural efficiency quoted realization risks regional exchanges Republic of Ireland round lot secondary market secondary stock market securities companies securities market securities traded security-dealing firms SEGMENTS 0F sell shares specialist third market thousand million transaction costs transaction risks transaction services turnover United unlisted volume of sales