Wholesale Debt Market
The Wholesale Debt Market segment trades fixed income securities and is a market where institutional investors such as banks, financial institutions, mutual funds, insurers, primary dealers, corporations, foreign portfolio investors, and others trade government securities and bonds. On June 30, 1994, the segment began operations.

Warrant
Warrants are like call options, which give investors the right but not obligation to buy securities in the company at a specified date in the future, at a price determined by the parties today. Warrants do not pay dividends and have a longer maturity period (typically 2-3 years) than options. Warrants lead to dilution of company holding; in case the warrants are exercised the company has to issue new stock resulting in dilution of equity.