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In the global money market, commercial paper is an unsecured promissory note with a fixed maturity of one to 364 days. Commercial paper is a money-market security issued (sold) by large corporations to get money to meet short-term debt obligations (for example, payroll). It is only backed by an issuing bank or a corporation's promise to pay the face amount on the maturity date specified on the note. Since it is not backed by collateral, only firms with excellent credit ratings from a recogniz...

Three main types of market organization facilitate securities trading: the auction market, the brokered market, and the dealer market. SECURITY MARKETS The securities market is an economic institute where the sale and purchase transactions of securities between subjects of the economy take place according to demand and supply. These can be broken down into different types based on what is traded. They are also differentiated by structure. The primary market is the part of the capital markets ...