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1. Markets generally.

A place or structure (physical or virtual) where buyers and sellers (directly or through intermediaries) trade goods, services, information, contracts or financial instruments.

Markets may be closely regulated, or relatively unregulated.

An example of a regulated market - as defined by the Markets in Financial Instruments Directive (MiFID) - is the London Stock Exchange.

2. Market segmentation.

A subset of any other market.

For example, considering an agricultural commodity, the wholesale and retail markets for that commodity.

3. Integration and broader perspectives on markets.

A market may also be a broader concept, including two or more other markets.

For example, the corporate debt market includes both the bond market and the loan market.

See also