21.   The secondary market helps the primary market in the pricing of new issues.

22.   In the absence of the secondary market the time required to raise new capital would be prolonged and the costs involved increased.

23.   The secondary market contributes to the primary market by enabling a wide range of institutions to participate in underwriting new issues.

24.   In this way, the depositor is able to maintain a degree of liquidity on the sum deposited as he can sell the CD on the secondary market.

25.   Also, there may be a secondary market in the bonds.

26.   And he worked to achieve better pricing information for investors in the secondary market for municipal securities.

27.   And in the spring it began selling its shares on secondary international markets in the form of American drawing rights.

28.   And the upheaval in the secondary markets, where dealers, brokers and investors trade bonds after they are issued, is bound to prove more profound.

29.   And there are relatively few initial public offerings to draw money from the secondary market, he said.

30.   And, he said, mergers of the giants and their growing preference for jets to serve their secondary markets might make more turboprops available to serve smaller cities.