Fourth market

Direct trading in exchange-listed securities between investors without the use of a broker. The New York Times Financial Glossary

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fourth market UK US noun [S] STOCK MARKET
the buying and selling of shares directly between banks, financial companies, etc. rather than on a stock exchange: »

It is impossible to estimate the volume of fourth market activity because trades are not subject to reporting requirements.

Compare PRIMARY MARKET(Cf. ↑primary market), SECONDARY MARKET(Cf. ↑secondary market), THIRD MARKET(Cf. ↑third market)

Financial and business terms. 2012.

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