Definition: Financial Market refers to a marketplace, where creation and trading of financial assets, such as shares, debentures, bonds, derivatives, currencies, etc. take place. It plays a crucial role in allocating limited resources, in the country’s economy. It acts as an intermediary between the savers and investors by mobilising funds between them.
而最终取得压倒性胜利的是福特公司(Ford)的CEO马克?菲尔茨(Mark Fields)，去年年初他曾令人沮丧地宣布他的公司正“从一家汽车公司向一家汽车公司兼出行公司转型”。他紧接着声称：“遗产是蕴藏着前景的历史。”他超爱这句话，说了不止一次。这句话被他翻来覆去地说，让我觉得它不像格言反倒更像废话。因此本年度新晋“首席蒙人冠军”(Chief Obfuscation Champion)非菲尔茨先生莫属。
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Functions of Financial Market
A lone European telephone bidder paid a top price of 9.1 million for a smaller 1825 version of John Constable’s admired but difficult-to-love 1824 vertical landscape, “The Lock,” that had been in the same British family since 1855.
- It facilitates mobilisation of savings and puts it to the most productive uses.
- It helps in determining the price of the securities. The frequent interaction between investors helps in fixing the price of securities, on the basis of their demand and supply in the market.
- It provides liquidity to tradable assets, by facilitating the exchange, as the investors can readily sell their securities and convert assets into cash.
- It saves the time, money and efforts of the parties, as they don’t have to waste resources to find probable buyers or sellers of securities. Further, it reduces cost by providing valuable information, regarding the securities traded in the financial market.
The financial market may or may not have a physical location, i.e. the exchange of asset between the parties can also take place over the internet or phone also.
Classification of Financial Market
- By Nature of Claim
- Debt Market: The market where fixed claims or debt instruments, such as debentures or bonds are bought and sold between investors.
- Equity Market: Equity market is a market wherein the investors deal in equity instruments. It is the market for residual claims.
- By Maturity of Claim
- Money Market: The market where monetary assets such as commercial paper, certificate of deposits, treasury bills, etc. which mature within a year, are traded is called money market. It is the market for short-term funds. No such market exist physically; the transactions are performed over a virtual network, i.e. fax, internet or phone.
- Capital Market: The market where medium and long term financial assets are traded in the capital market. It is divided into two types:
- Primary Market: A financial market, wherein the company listed on an exchange, for the first time, issues new security or already listed company brings the fresh issue.
- Secondary Market: Alternately known as the Stock market, a secondary market is an organised marketplace, wherein already issued securities are traded between investors, such as individuals, merchant bankers, stockbrokers and mutual funds.
- By Timing of Delivery
- Cash Market: The market where the transaction between buyers and sellers are settled in real-time.
- Futures Market: Futures market is one where the delivery or settlement of commodities takes place at a future specified date.
- By Organizational Structure
- Exchange-Traded Market: A financial market, which has a centralised organisation with the standardised procedure.
- Over-the-Counter Market: An OTC is characterised by a decentralised organisation, having customised procedures.
Qatar University claimed the most international institution, marking the first time a Middle Eastern university has topped the list.
In that meeting, he told Jacobs that such problems would decrease, as China is reforming its management system in science and technology, according to a statement by the association on Friday.