The secondary market refers to the market where existing securities are traded between investors, after being initially offered in the primary market. Majority of trading occurs in the secondary market, which includes equity and debt markets. To trade in the secondary market, investors require a trading account, demat account, and PAN. Trading happens through stock brokers on recognized stock exchanges, either online or through phone/email. Trades are settled on a T+2 rolling basis, with payments and deliveries of shares occurring within 2 days of the trade date. The document outlines the process and participants involved in secondary market trading.