Investment Banking and Securities Firms

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Role of securities firms

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Securities firms specialize in the purchase, sale, and brokerage of existing securities.

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Largest firms in the industry

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Diversified financial service or national full-service investment banks servicing both retail and corporate customers.

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Role of broker-dealers

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Assist retail customers.

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Example of a national full-service firm

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Goldman Sachs

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Large investment banks

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Maintain limited branch networks in major cities with predominantly institutional client bases.

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Primary market services

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Services related to the issuance of new securities

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Secondary market services

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Services related to the trading of existing securities

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Financial markets segment

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A specific part of the financial markets served by firms.

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In a private offering, an investment bank acts as a private placement agent for a fee.

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Private placement involves placing the securities with one or a few large institutional investors.

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