A place where people buy and sell the actual commodities, i.e., grain elevator, bank, etc. Spot usually refers to a cash market price for a physical commodity that is available for immediate delivery. A forward contract is a cash contract in which a seller agrees to deliver a specific cash commodity to a buyer sometime in the future. Forward contracts, in contrast to futures contracts, are privately negotiated and are not standardized. Chicago Board of Trade glossary
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A market in which goods are purchased either immediately for cash, as in a cash and carry contract, or where they are contracted for presently, with delivery occurring at the time of payment. All terms of the contract are negotiated between the buyer and seller.
See also cash commodity The CENTER ONLINE Futures Glossary
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(1) noun - A market for buying or selling financial instruments, commodities, or other property for cash settlement and immediate (as opposed to future) delivery.
Also called spot market.
(2) adjective - A financial instrument or transaction for which the ownership of the financial instrument or commodity is transferred at, or very shortly after, the time of the transaction, as opposed to futures market transactions where ownership of the financial instrument or commodity is transferred, if it is transferred at all, at a later date.
Also called spot transactions or spot market transactions. American Banker Glossary
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The market place for the immediate delivery of and payment for assets. Dresdner Kleinwort Wasserstein financial glossary
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The market in the actual financial instrument on which a futures or options contract is based. Exchange Handbook Glossary
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The market in the underlying financial instrument on which a futures or options contract is based. LIFFE
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cash market UK US noun [C] (also spot market)
► FINANCE, STOCK MARKET a financial market in which products are sold and delivered immediately, rather than one in which agreements are made for products to be delivered at some time in the future: »
Most trading in this predominantly cash market is still done over the telephone.
Financial and business terms. 2012.