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Financial Market

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.

该排名衡量的是欧洲商学院研究生课程的质量和广度。商学院必须参与所有这4项排名,才有资格获得完整得分。伦敦商学院去年排名第三,为首次参与所有4项排名。
开发商:Dontnod Entertainment、Square Enix

Functions of Financial Market

adj. 浪漫的

  • 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

classification of financiak market

  1. 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.
  2. 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.
  3. 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.
  4. 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.

AMC频道的《广告狂人》(Mad Men)也是如此。该剧演到了第七季,剧中人物和20世纪60年代的背景似乎已被挖掘干净,不过它仍在让观众猜测结局,结局要到明年才播出。《黑道家族》(The Sopranos)结局模糊。《绝命毒师》(Breaking Bad)以沃尔特·怀特(Walter White)死去告终。现在,隐约显现的下一个电视谜题是唐·德雷珀(Don Draper)的最后时刻——究竟是死去还是活着。
由于本月初谷歌人工智能程序AlphaGo对弈韩国围棋大师李世石取得历史性的胜利,互联网巨头们就人工智能的前景展开了热烈讨论。
本文作者为卡内基国际和平基金会(Carnegie Endowment)高级研究员、世界银行(World Bank)中国业务局前局长,译者/何黎
Trade flows brought China’s balance of trade to $40.82bn, roughly $7.2bn below expectations and down about $3.6bn from November’s revised level of $44.23bn (previously $44.61bn). That balance came to Rmb275.4bn in local-currency terms.

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