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Commodities and securities market, transactions are cash based and delivered immediately. Contracts are usually immediately effective.
It’s a debt security i.e. a long term financial obligation or secured loan issued through underwriting or auctions by either the government or corporate organisations.
Money market security issued by large banks and corporations mostly used to purchase inventory or as working capital.
Short term discount instrument used in the course of international trade drawn on and accepted by banks which are obliged to pay the face value on maturity.