What is another word for forward market?
Pronunciation: [fˈɔːwəd mˈɑːkɪt] (IPA) 
A forward market refers to a financial market where contracts of commodities and assets are traded for future delivery or payments at a pre-determined price. A similar term used in the financial world is the futures market, which is an organized market that deals in standardized contracts for the buying and selling of specified commodities and financial instruments. Another synonym is the derivative market, where the value of the underlying asset is derived from the value of another asset. The term spot market is also used when referring to the immediate exchange of goods or assets for cash or its equivalent. Regardless of the name used, these markets are fundamental components of the investment industry, playing a vital role in risk management, hedging, and price discovery.
