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English definition of “spot market”

spot market

noun [C]     (also cash market, also spot cash market)
FINANCE, MONEY a market for currencies or commodities in which they are sold and given to the buyer immediately, rather than being sold forward (= to be taken on a future date): Crude oil prices fell to just over $26 a barrel yesterday on New York's spot markets. → Compare futures market
(Definition of spot market noun from the Cambridge Business English Dictionary © Cambridge University Press)
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