The primary market is the financial market where new securities, such as stocks or bonds, are issued and sold for the first time by companies, governments, or other entities directly to investors. This process is used to raise capital for projects, business expansion, or other financial needs. The funds raised go directly to the issuer.
Where the European Commission initially allocates or auctions emission allowances. The amounts of EUAs released in the economy follow the cap and are reduced according to the predetermined LRF.