A(n) ________ market is one where an investor can exchange any currency in any amount at the spot rate or forward rate and is free to purchase or sell any security in any amount in any country at their current market prices.

Question

Quizplus · Accepted Answer

This describes a market that is fully integrated across countries and currencies, allowing investors to easily exchange currencies and purchase securities across borders at market prices. The other options do not fully capture the characteristics of such a market. A financial market is too broad of a term, a limit order market involves specific instructions for buying or selling, and an over-the-counter market typically involves trading securities that are not listed on public exchanges.

A(n) ________ Market Is One Where an Investor Can Exchange