1.   The acceptance is negotiable and can be sold in a secondary market.

2.   The Bank customarily announces the issue of new stock on a Friday and dealings usually start in the secondary market on the following Thursday.

3.   Their activities can be distinguished between primary markets and secondary markets.

4.   Most secondary market transactions in eurobonds occur in over the counter trading, i.e. not on a recognised exchange.

5.   Most secondary market trading of eurobonds also takes place in London.

6.   Market estimates suggest that approximately three quarters of secondary market turnover in dollar eurobonds occurs in London.

7.   It is thus evident that secondary market trading cannot be entirely divorced from primary issuance.

8.   Undercapitalisation entails risks when such firms carry out eurobond bought deals or take on large positions in secondary market trading.

9.   The discount market helps to make a secondary market in this type of paper.

10.   In the secondary market, around three quarters of trading is principal to principal, with one quarter conducted through brokers.