The Deal Room: Debt Capital Markets (DCM) Explained
Market Maker
00:00
Exploring Secondary Markets and Private Market Trading Services
Delving into the significance of public secondary markets for price establishment and liquidity, the chapter contrasts the evolving private secondary market for shares of private companies, highlighting the challenges of selling shares without a formal marketplace. It discusses Morgan Stanley's private markets trading service, the emergence of platforms like Forge for private company share trading, and the fee structure involved, raising concerns over the high risk, low liquidity, and opacity in pricing of such investments.
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