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1. Surplus units: market participants that receive more money than they spend
2. Deficit units: market participants that spend more than they receive
5. What are some possible problems with direct interaction between surplus units and deficit
units? Be specific about the type of market participant.
1. Money market securities: debt securities with maturity of less than one year
2. Capital market securities: securities with maturity of more than one year
1. equity
2. debt
3. Derivative securities
V. Regulation
1. Major types of regulation
1. disclosure requirements
2. limits on scope or size
3. operational requirements
In-class project: