The market where existing securities are bought and sold is known as ______ .

The correct option is Secondary market.

To understand why this is the correct answer, let us break down the concepts of financial markets:

1. Primary Market: This is the market where new securities (shares, bonds, etc.) are issued for the very first time. Here, the transaction takes place directly between the issuing company and the investors. Examples include Initial Public Offerings (IPOs).

2. Secondary Market: Once securities are issued in the primary market, they are listed on stock exchanges (like the NYSE or NASDAQ) for regular trading. The secondary market is where investors buy and sell these already existing, previously issued securities among themselves. The issuing company is not directly involved in these transactions.

3. Capital Market and Financial Market: These are broader terms. Financial market is the overarching market that includes both capital markets (long-term funds) and money markets (short-term funds). The capital market itself is further divided into the primary and secondary markets.

Therefore, the specific market dedicated to buying and selling existing, pre-owned securities is the Secondary market.