Financial markets

Markets where financially settled products (instruments) are traded (bought and sold). In commodity markets, it is markets where financially settled commodity derivatives are traded. Nymex is purely financial, where any residual delivery obligations on the futures contracts are matched and settled physically off-exchange by the matched parties. ICE trades both physically and financially settled products. Brokers also do both physical and financial transactions. Financial markets are also a term used for capital markets where stocks, bonds, T-Bills, foreign exchange and other financial instruments are traded.