Refers to the practice of institutional investors trading large blocks of securities directly to avoid brokerage commissions. Bloomberg Financial Dictionary
See: Instinet. Bloomberg Financial Dictionary
————
The direct trading of securities between institutional investors without the use of brokers or dealers. Exchange Handbook Glossary
* * *
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.