Description 1. A financial market in which only​ short-term debt instruments​ (generally those with original maturity of less than one​ year) are traded. 2. A financial market in which securities that have been previously issued can be resold. 3. A financial market in which new issues of a​ security, such as a bond or a​ stock, are sold to initial buyers by the corporation or government agency borrowing the funds. 4. A market in which​ longer-term debt​ (generally those with original maturity of one year or​ greater) and equity instruments are traded. 5. A market where bonds or​ mortgages, which are contractual agreements by the borrower to pay the holder of the instrument fixed dollar amounts at regular intervals until a specified date when a final payment is​ made, are traded. 6. A market in which dealers at different locations who have an inventory of securities stand ready to buy and sell securities to anyone who comes to them and is willing to accept their price.