The money market is a telephone market in which trades of loans and securities are usually negotiated by phone and usually confirmed by wire.

Question

Quizplus · Accepted Answer

The money market is indeed often referred to as a telephone market because transactions, including trades of loans and securities, are typically negotiated over the phone and confirmed via wire, reflecting its decentralized nature and reliance on communication technology for trading activities.

The Money Market Is a Telephone Market in Which Trades