A place or institution in which buyers and sellers of a good or asset meet. A market was originally a physical location, and still is for some goods, for example cattle or fish markets, and for some services, for example Lloyd’s for insurance. In other cases the market is a network of dealers linked by telephone and computer, and following common trading rules and conventions. Markets facilitate trade in goods, as in a commodity market; in securities, for example the bond market, the capital market, or the stock exchange; in labour services, as in the labour market; or in foreign exchange, in the foreign exchange market. Spot markets handle trade in goods or services for immediate delivery. Markets also exist for goods, services, or assets for future delivery, that is, trade in forward or futures contracts, and for derivatives, for example, options or market indices. In recent years, a wide spread of cheap and fast internet access led to the emergence of peer-to-peer markets in goods and services where buyers and sellers are matched on an internet platform.