Meaning of “fourth market” in the English Dictionary

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"fourth market" in Business English

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fourth marketnoun [ S ]

uk us 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.

(Definition of “fourth market” from the Cambridge Business English Dictionary © Cambridge University Press)