Which one of the following is not a function of the new issue market:

The correct answer is D. Administration of Securities.

The new issue market is a market for the initial sale of securities to the public. It is also known as the primary market. The functions of the new issue market are to:

• Originate securities: This involves finding companies that want to raise money by issuing securities and then helping them to prepare the necessary documentation.
• Underwrite securities: This involves agreeing to buy all of the securities that are issued, regardless of whether they are all sold to the public.
• Distribute securities: This involves selling the securities to the public.

Administration of securities is not a function of the new issue market. This is because administration of securities is the process of managing the ownership and transfer of securities after they have been issued. It is a function of the secondary market, which is the market for the buying and selling of existing securities.

Here is a brief explanation of each option:

• Origination of securities: This involves finding companies that want to raise money by issuing securities and then helping them to prepare the necessary documentation. This includes drafting the prospectus, which is a document that provides information about the company and the securities being offered.
• Underwriting of securities: This involves agreeing to buy all of the securities that are issued, regardless of whether they are all sold to the public. This is done to ensure that the company is able to raise the money it needs.
• Distribution of securities: This involves selling the securities to the public. This can be done through a variety of channels, such as investment banks, brokerage firms, and online trading platforms.
• Administration of securities: This is the process of managing the ownership and transfer of securities after they have been issued. This includes keeping track of who owns the securities, recording changes in ownership, and processing payments.