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Define the in- order-driven according to trade intermediation.
In- order-driven markets:
In order-driven markets, buyers and sellers trade unswervingly without any intermediation. Many order-driven markets are auction markets. In trading rules formalise the procedure by that buyers seek the lowest accessible prices and sellers seek the highest accessible prices (i.e., price discovery procedure).
Many practitioners feel that instead of using only on-the-run issues, all treasury coupon securities and bills are to be used for constructing the theoretical spo
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Role of Financial Intermediaries in the financial system: Having designed the instrument, the issuer should then ensure that these financial assets reach the ultimate investor
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