Imagine you’re watching a sports game. There are players, referees, coaches, and fans—all necessary for the game to happen. The capital market works similarly:

• Regulators are like referees. They ensure the game is played fairly. In Ethiopia, the ECMA is the main regulator.
• Investment Banks and Advisors are like coaches. They help companies figure out the best strategies to raise money and grow their business.
• Brokers and Dealers are like the players. They actively participate by buying and selling securities, making sure there’s always someone to trade with.
• Central Securities Depository (CSD) is like the scoreboard keeper, making sure all the trades are recorded accurately and everyone knows who owns what.

This teamwork in the capital market helps businesses get the funding they need and ensures that investors can trust the system to protect their interests.