The Secondary Market refers to the platform where previously issued financial instruments, such as stocks and bonds, are bought and sold. Unlike the primary market, where securities are created and sold for the first time, the secondary market allows investors to trade these assets among themselves. This trading can occur on various exchanges or over-the-counter. In the secondary market, prices fluctuate based on supply and demand, reflecting the current value of the securities. Investors can gain liquidity, meaning they can easily convert their investments into cash. Examples of secondary markets include the New York Stock Exchange and NASDAQ.