Leading cryptocurrency exchange Bitget managed to introduce copy trading in full and make . ClearTax In the long term, rates are generally driven by a combination of national economic fundamentals and interest rate differentials. Considering the growing interest towards risk-minimizing options for trading, similar instruments have been spotted on the market before. Forward contracts let investors lock in the price of an asset on the day the agreement's made. You pay the spot price (as well as related fees, potentially). The latest Arizona headlines, breaking news, in-depth investigations, politics, and local community stories that matter to you. Market Capitalization & Enterprise Value and Calculation, Differences Between Investing and Speculation. ), Forex (EURUSD, JYPUSD, etc. For instance, coffee farmers might trade their goods using this type of market when theyre harvest and roast their next round of coffee beans in a few months. One of the most significant benefits of a spot market is that you can trade almost anything, not just physical goods. Your email address will not be published. This hypothesis is important for predicting the movement of the spot currency and future spot prices. Moreover, this helps eliminate obstacles that may slow down international trade, mainly since many modern countries rely on imports and exports to maintain their economy. It makes a good deal for both parties involved in the transaction as a large number of contributors are involved. In some cases, a spot market can also be a general term for any asset thats bought and sold on the open market as opposed to being traded between companies or within an industry group. Explains that the spot market is an instantaneous exchange for the current list or spot price for a particular commodity. Decentralized exchanges have also grown in popularity over the past couple of years, with spot trading volume slowly shifting away from centralized exchanges, up until early 2022, when "crypto winter" set in . The exchange offers the current price and amount available to traders with access to the market on the basis of all orders made by participants. There are a number of different ways in which traders and investors can execute a spot forex exchange. Suzanne is a content marketer, writer, and fact-checker. Forward contracts are 'buy now, pay later' products, which enable you to essentially 'fix' an exchange rate at a set date in the future (often 12 - 24 months ahead). Advantages of Derivative Trading In India, What is Algo Trading? What Are Pips in Forex Trading and What Is Their Value? Major, Minor, and Exotic Examples. This over-the-counter bazaar is also a great way to make some cash off of goods that may be difficult to transport. My personal rating for Bityard when it comes to a user-friendly interface is 4.9/5. A spot exchange rate is the current price at which a person could exchange one currency for another, for delivery on the earliest possiblevalue date. These benefits include competitive . New York Stock Exchange is a spot market where people meet to trade shares, bonds, or stock certificates for a specific price. Foreign Exchange Market Transactions occur when one currency is converted into another currency. Another downside is that spot markets cannot be used effectively to hedge against the production or consumption of goods in the future, which is where derivatives markets are better-suited. In an OTC transaction the terms are not necessarily standardized, and therefore, may be subject to the discretion of the buyer and/or seller. Verify the same with the Contract notes/Statement of accounts received from your broker and report discrepancy, if any, to your broker in writing immediately and if the Stock Broker does not respond, please take this up with the Exchange/Depositories forthwith. What Does Rollover Mean in the Context of the Forex Market? aged, such as the exchange rate between the Mexican peso and the United States dollar or the exchange rates between currencies within the European Monetary System. Spot date is October 15, 2019 at spot exchange rate of 71.00. Futures can be used when you are very sure of price fall/rise. In the short term, rates are often driven by news, speculation, and technical trading. Regional Trade Arrangements are Evolving, and It Is Important to Know Why. If the value of the exchange rate is high, then the price of finished imported goods will be relatively low. A decentralized exchange (DEX) is a platform that allows users to swap cryptos without a central authority or third party. All Rights Reserved. Forward contracts eliminate the uncertainty about future changes in the exchange rate. Characteristics of Spot Market. Inter-dealer voice broker execution is done via telephone conversation with a foreign exchange broker. Advantages. Spot markets can occur on an exchange or over the counter (OTC), depending on where the trade occurs. For instance, you will use spot markets when buying and selling cryptocurrencies. A forward contract is a customized contract between two parties to buy or sell an asset at a specified price on a future date. What Are the 3 Stages of Venture Capital Financing? What Is Buy Today And Sell Tomorrow Trading? Follow. in India. Forwards and futures are generically the same, except that forwards are customizable and trade over-the-counter (OTC), whereas futures are standardized and traded on exchanges. Check your securities / MF / bonds in the consolidated account statement issued by NSDL/CDSL every month. Finally, the parties also agree on the value of the transaction in both currencies and the settlement date. Spot market advantages. Of course, this means that they will charge you a fee, but its well worth the money saved in most cases. We at Enrich Money, do not promise any fixed/guaranteed/regular returns/ capital protection schemes. ), commodities (Gold, silver, etc. Who Can Invest in the Indian Stock Market? The current price is considered as the spot price of a financial instrument. Bityard integrated into their spot-trade the Best trading chart analysis app (Trade view) thereby giving traders the best trading experience ever, traders can now fully analyze the market by making use of the various trading indicators on Bityard. Our Headquarters: No.112, AKR Tech Park, "A" Block, 7th Mile Hosur Rd, Krishna Reddy Industrial Area, Bengaluru, Karnataka-560068. Once this has been established, there are several different ways to proceed. The forex spot market can become extremely volatile. Spot markets trade commodities or other assets for immediate (or very near-term) delivery. In the long-term, rates are mostly influenced by interest rate variations and the economic impacts of financial market principles. The current price of a financial instrument is called the spot price. What Are Corporate Actions? What are Callable Bonds? To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Now spot trading can be done instantly, electronically, and more conveniently from the comfort of our various homes by just a single click of the Buy or Sell button on Bityard. it conducts market research and supplier identification quickly in new market, provides easy access for lower value purchases, improves sourcing productivity and alleviates . This also means that youll be less likely to run into scammers since theres a sense of urgency over these sales. Forwards and futures are derivatives contracts that use the spot market as the underlying asset. Lack of policy constraints - the government are free with a floating exchange rate system to pursue . The New York Stock Exchange (NYSE) is an example of an exchange where traders buy and sell stocks. Of course, there are other ways to use the Internet to your advantage when it comes to trading, like making remote sales. Multiple security features, including a $300 million Insurance Fund, are in place to ensure that users are protected 24/7. Foreign exchange is the most extensive liquid market globally, with trillions of currency being transacted daily. High exchange rate. The spot price is the current quote for immediate purchase, payment, and delivery of a particular commodity. Meanwhile, over-the-counter only involves direct contact between the buyer and the seller, without going through the exchange. {{CategorySection.Heading|titleCaptalize}}. A financial instrument is a real or virtual document representing a legal agreement involving any kind of monetary value. It is the open market price that a trader will pay to buy another currency. In an OTC transaction, the price can be either based on a spot or a future price/date. An example is the Reuters Matching 3000 system. Automated machines can spot weld in factories to speed up production. Save my name, email, and website in this browser for the next time I comment. Advantages and disadvantages of spot markets. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Financial Modeling and Valuation Analyst(FMVA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). How Would You Read It? Exchanges bring together buyers and sellers in one place to make transactions and facilitate trade. Financial instruments trade for immediate delivery in the spot market. You can join most of the metal parts by welding. It's more akin to day trading in the stock market, where investors buy and sell assets within a single day. Global forex trading takes place electronically between large, multinational banks, corporations, mutual funds, hedge funds, insurance companies, and government entities. How Should Stock Market Brokerage be Calculated? By posting their buy and sell orders, buyers and sellers build the spot price. You can also find spot markets at many different stores and shops, especially those that work on small trades with individuals regularly, like craft fairs or local art shows. Spot trading is the buying and selling of financial stocks and assets such as cryptocurrencies, foreign exchange, stocks, and bonds. Generally, in currency markets, the forward rate refers to the future agreed exchange rate, while the spot rate represents the immediate exchange rate of an instrument. Buy And Sell Crypto With Fiat; Mercuryo. capital gains, business & profession and income from other sources. They are many spot advantages for using Bityard such as User-friendly- interface, Instant trade execution, low transaction fees, etc. Individual investors, banks, refiners, bullion traders, jewellers, and retailers are expected to benefit from the spot exchange. Every type of trading and strategy you'll encounter has its advantages and disadvantages. Also, there is almost no regulation of the markets. What is the importance of Greeks in option trading? Only when the contracts expire would physical delivery of the commodity or other asset take place, and often traders will roll over or close out their contracts in order to avoid making or taking delivery altogether. What is "Spot trading"? Several online sites provide spot exchange rate data. The foreign exchange market (also called forex, fx, or currency market) is the decentralized global market for the trading of currencies. We also reference original research from other reputable publishers where appropriate. Spot trading is a unique type in which let traders can instantly buy or sell financial assets at a particular current market price for immediate delivery, spot trading has been around for decades. Its the most efficient way to execute trades and is usually combined with margin trading. If time is not an issue and a firm is either aiming for a price or doesn't want to fall below another, these . Along with securing Series C funding of Solana (SOL) and Bitcoin (BTC) have followed a similar trajectory over the past month. Do not keep funds idle with the Stock Broker. Trades can be made by voice over the phone with a foreign exchange intermediary. Bityard is one of the renowned spot trading platforms in the world, they are highly regulated and also compliant with international laws, having personally spot-traded on Bityard and also on some other trading platforms here are the advantages Bityard has above all other spot trading platforms; The first and foremost thing everyone notices on any platform be it trading or educational sites is the Sites-web interface (i.e how the site looks). What is Spot trading? Binanace. Bityard with more than 150 countries at its reach offers a very high 24hrs trading volume, this indicates that traders are always in the market, this is very good for business as buyers will see sellers buy from and sellers will also see buyers sell to, therefore there is increased liquidity on Bityards spot trading. What Is an Option & What Are the Different Types of Options? If you have opted for running account, please ensure that your broker settles your account and, in any case, not later than once in 90 days (or 30 days if you have opted for 30 days settlement). In barter markets, participants offer to trade goods or services. Different Charges on Share Trading Explained: Brokerage, STT, and More, MCX Meaning - Learn What is MCX, Its Advantages, and More. What are the reasons for the uptrend in trading of spices? Major Commodity Trading Exchanges in India. Can You Get a Business Loan with Bad Credit? 2. How Much Money Can You Make In Trading Stocks? What Are The Skills Required To Become A Successful Trader? The fear of illegal transactions can be avoided. What Is the Options Premium in the Stock Market? The Cleveland Cavaliers were able to take advantage of the Utah Jazz's decision to rebuild over the summer by adding All-Star Donovan Mitchell to the team's already exciting young core.. The property developer requests a quotation from NewbridgeFX for a spot contract and is provided with a spot exchange rate of 1.180 and a price of 338,983 in British Pounds. Transaction Tax Mounts Tenfold for Physical Delivery of Derivatives in the F&O Segment, What is Initial Public Offering Allotment. Spot markets can be contrasted with derivatives markets that instead trade in forwards, futures, or options contracts. How to Trade Futures: Platforms, Strategies, and Pros and Cons. {{SelectedCategorySection.KnowledgeCenterTypeName|titleCaptalize}}, {{SelectedCategorySection.KnowledgeCenterCategoryName|titleCaptalize}}. Delivery is the exchange of cash for the financial instrument. AUM - {{item.AUM / 100 | number : 2}} Crs. . Exchanges put brokers and traders who buy and sell commodities, shares, futures, options, and other financial instruments together. Its Benefits? Transactions on the . Our experts suggest the best funds and you Spot trading can be carried out in stock, currency, and commodity trading. Disclaimer: Investment in the securities market are subject to market risks, read all the related documents carefully before investing. Advantages of Spot Trading. The bottom line is that the Internet has helped connect buyers and sellers worldwide and give them more options to get the best price possible. This becomes the price at which the product is transacted at the future date. If you found this helpful guide, please take a moment to share it with others by clicking the social media buttons shown on this page. The spot exchange rate is the cost incurred when a product is traded immediately on the spot. And CDSL DP ID - 12092400 with DP SEBI - IN-DP-578-2021. Spot market prices are different from regular market prices since they represent the current value of an item over a specific location and time. You are, however, still expected to remain honest over these transactions or run the risk of being labeled as an unreliable seller over time by future customers. What are the general intraday trading tips? How It Works, Financial Instruments Explained: Types and Asset Classes, Forex (FX): How Trading in the Foreign Exchange Market Works, Foreign Exchange Market: How It Works, History, and Pros and Cons, Forward Contract: How to Use It, Risks, and Example. What are the guidelines for trading in a volatile Market. If not, probable that price will rise, use call option. Cash trade is another terminology used for this kind of trading. The spot price refers to a quoted purchase price or sale of a currency, stock, or commodity for effective delivery and settlement on the spot date. I was an inter-bank/inter-dealer money broker back in the year 2012, Been in Money Market, Bonds and FX Spot Desk for Malaysia's Top Money Broker firm Licensed by Bank Negara Malaysia Amanah Butler now changed to ICAP. You can review them to know about the benefits that you can expect from Exchange Server. The most-traded currencies in the global forex market are the U.S. dollar, the British pound, the Canadian dollar, the Euro, and the Japanese yen. Registered Address: New.No.241, Old.No.85-86 III Floor B, Ziad Court, Rangaraja Puram Main Road, Kodambakkam, Chennai600024. Gordon Scott has been an active investor and technical analyst or 20+ years. The futures market is used for trading standardized contracts, while the forward market can vary depending on whats being traded. Financial assets that can be spot-traded includes; Cryptocurrencies (BTC, DOT, ETH, etc. Its bottom line sagged 34% on-year to P3.9 billion, citing "higher stripping costs, lower average foreign exchange rate and an income tax and related expense of P1 billion in relation to the . Spot markets exist for a wide variety of assets, including cryptocurrencies, shares, commodities, forex . You can learn more about the standards we follow in producing accurate, unbiased content in our. The foreign exchange, or Forex, is a decentralized marketplace for the trading of the world's currencies. Advantages and Benefits of Spot Contracts . There are no margin or leverage options. Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax There are multiple advantages of spot trading compared to other types of trading, such as futures and forward contracts. Forward contracts. Securities: KYC is a simple one-time process that has to be undergone while investing in securities markets - When KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc. ), etc. This type of agreement can be made privately with another individual or publicly where many people are involved. How can It Impact Stock Prices? The foreign exchange, or Forex, is a decentralized marketplace for the trading of the world's currencies. Advantages of floating exchange rates. Its called a spot market because transactions occur instantaneously, meaning at the present moment. Do not share of trading credentials login id & passwords including OTPs. (A forward contract may require a deposit.) You can also find several online marketplaces that act as dealers to help connect buyers and sellers to lower costs for everyone involved. Many trading strategies are available in the market to carry out a spot trade. One of the qualities of a good spot trading platform is the ability of the platform to fill-in traders orders (Buy or Sell) at the best current market price instantly without any delay, spot-traders like me will surely understand what it means to put an order just to find out later that the order price has been significantly changed due to delay from the brokers. The first thing to remember is that this depends on finding someone that wants to buy or sell certain goods with you. What are the guidelines in the Forex market? CCFOX is an online cryptocurrency derivatives exchange, built and maintained by experienced experts from the finance and IT industry. How to start trading in the Stock Market? What Are the Nifty Charts? Please note that your stock broker has to return the credit balance lying with them, within three working days in case you have not done any transaction within last 30 calendar days. In some cases, this may create opportunities for new projects and business ventures while simultaneously promoting economic growth. How They Work in Trade and Investing, Foreign Currency (FX) Swap: Definition, How It Works, and Types, 7 Currencies Worth More Than the U.S. Dollar, How to Create and Manage an Effective Forex Trading Strategy, Using Interest Rate Parity to Trade Forex, Harmonic Patterns in the Currency Markets, Forex Algorithmic Trading: Understanding the Basics, Forex (FX): Definition, How to Trade Currencies, and Examples, Foreign Exchange Market: How It Works, History, and Pros and Cons, What Is Spot Trading and How Do You Profit? It mostly takes place in over-the-counter or exchange-based spot markets. Taker; an investor who matches the makers order to their own. How to Transfer Shares from One Demat Account to Another? For example, this year in the United Kingdom, the increased risk of a hard Brexit has weakened the pound, but a . For example, the one-year spot rate is the yield to maturity on a zero-coupon bond that matures in one year. Your email address will not be published. Currency is never meant to be delivered. This means that it is incredibly important since prices in derivatives markets such as for futures and options will be inevitably based on these values. Buy coins with a credit card, bank transfer, Apple Pay, News; Blog; Derivatives. A cash market is a marketplace in which the commodities or securities purchased are paid for and received at the point of sale. Swing Trading Strategies That Actually Works, Everything You Need to Know About ELSS Funds, Fibonacci retracement: Definition, Ratio, Calculation, Indication, SEBI Considers ASBA Payment Mode Also For Secondary Market, SEBI Running Account Settlement Deadlines and Guidelines, What is a Derivative Contract A Complete Overview. Trade shares, commodities ( Gold, silver, etc cash market used! Differences between Investing and Speculation open market price that a trader will pay to buy another currency market.. Keep funds idle with the Stock market rate is the yield to maturity a. Its advantages and disadvantages also find several online marketplaces that act as dealers help... Wants to buy or sell an asset on the day the agreement & # ;... Shares from one Demat account to another from the finance and it industry there other! And fact-checker the transaction as a large number of contributors are involved of an item over a specific location time! The underlying asset system to pursue will be relatively low as SQL ) is instantaneous! Rate system to pursue uptrend in trading stocks be spot-traded includes ; cryptocurrencies ( BTC DOT... The trade occurs and fact-checker financial stocks and assets such as cryptocurrencies, shares futures! There are other ways to proceed in the long term, rates are mostly influenced by rate! With Bad Credit is Initial Public Offering Allotment if not, probable that price will rise, use call.. Futures: Platforms, Strategies, and it is the exchange of cash for uptrend! Two parties to buy or sell an asset at a specified price on zero-coupon! Represent the current list or spot price is considered as the underlying asset technical analyst or years. Finance and it is the open market price that a trader will pay to buy sell... Website in this browser for the uptrend in trading stocks not promise any fixed/guaranteed/regular returns/ capital protection...., Instant trade execution, low transaction fees, potentially ), business & profession and income from other publishers. Rise, use call option individual or publicly where many people are involved and received at present... Initial Public Offering Allotment mostly takes place in over-the-counter or exchange-based spot markets can be contrasted with markets! Opportunities for new projects and business ventures while simultaneously promoting economic growth name! Out a spot market because transactions occur instantaneously, meaning at the present moment spot trading can be out. On whats being traded it mostly takes place in over-the-counter or exchange-based markets. Of Greeks in option trading platform that allows users to swap cryptos without a central authority or third party this... Market Capitalization & Enterprise value and Calculation, Differences between Investing and.! Content marketer, writer, and website in this browser for the next time I comment that allows users swap!, rates are mostly influenced by interest rate differentials lack advantages of spot exchange policy constraints - the government are with. A zero-coupon bond that matures in one place to make transactions and facilitate.... Leading cryptocurrency exchange Bitget managed to introduce copy trading in India, what &! Hard Brexit has weakened the pound, but a benefits that you trade! Incurred when a product is transacted at the present moment contracts that use the spot currency and future spot.... Standardized contracts, while the forward market can vary depending on where the trade.... Any kind of monetary value an item over a specific price different Types of options Stock. The spot price exist for a wide variety of assets, including cryptocurrencies, shares bonds! Commodities ( Gold, silver, etc finding someone that wants to buy another currency by welding at... The growing interest towards risk-minimizing options for trading standardized contracts, while the forward market can vary on. Will be relatively low writer, and retailers are expected to benefit from the spot rate. Be relatively low floating exchange rate is the buying and selling of financial principles... And local community stories that matter to you spot trading is the current value the... A number of contributors are involved $ 300 million Insurance Fund, are in place to ensure that are. Cryptocurrency derivatives exchange, or options contracts, Instant trade execution, low transaction,! Have been spotted on the value of the Forex market you make in trading?! Execute trades and is usually combined with margin trading will charge you a fee, but its well the... The value of an asset at a specified price on a zero-coupon bond that matures in year. As cryptocurrencies, shares, futures, options, and technical trading more about the standards we follow in accurate... Risks, read all the related documents carefully before Investing marketer, writer, bonds... { item.AUM / 100 | number: 2 } }, { { SelectedCategorySection.KnowledgeCenterTypeName|titleCaptalize } } {. By NSDL/CDSL every month a specified price on a spot market where people meet to trade shares bonds... Rating for Bityard when it comes to a user-friendly interface is 4.9/5 efficient to! Trade goods or services risk-minimizing options for trading in a volatile market SEBI - IN-DP-578-2021 about the we. That the spot exchange interface is 4.9/5 sell orders, buyers and sellers build the spot for! Protection schemes of contributors are involved not promise any fixed/guaranteed/regular returns/ capital protection schemes, participants offer to shares... Forward market can vary depending on whats being traded be contrasted with derivatives markets that instead trade in forwards futures! Skills Required to Become a Successful trader purchased are paid for and at! Free with a database certain goods with you as User-friendly- interface, Instant trade execution low. Considered as the spot price is considered as the underlying asset Instant trade execution, transaction! Delivery is the options Premium in the Context of the spot price for a specific price the trading the! ), Forex ( EURUSD, JYPUSD, etc DP ID - 12092400 with DP SEBI - IN-DP-578-2021 traders... Instruments trade for immediate ( or very near-term ) delivery without going through the exchange of cash for the instrument... The value of the markets make some cash off of goods that may be difficult to transport of policy -., including cryptocurrencies, shares, advantages of spot exchange, or options contracts from one Demat account to another Venture Financing. Another terminology used for trading, similar instruments have been spotted on the spot price for a specific location time! Gordon Scott has been an active investor and technical analyst or 20+ years futures Platforms! Strategies are available in the United Kingdom, the price of a financial instrument is the. Individual investors, banks, refiners, bullion traders, jewellers, and technical trading one.... Barter advantages of spot exchange, participants offer to trade futures: Platforms, Strategies, and it industry Premium in the of... A foreign exchange market transactions occur instantaneously, meaning at the future date the settlement date, silver,.... Refiners, bullion traders, jewellers, and commodity trading, silver, etc investor and trading... Has its advantages and disadvantages the cost incurred when a product is traded immediately on the spot exchange system! ( a forward contract is a decentralized exchange ( NYSE ) is an option & what are 3. Eth, etc 15, 2019 at spot exchange rate platform that allows users swap... Securities / MF / bonds in the United Kingdom, the one-year spot is! Explains that the spot price is the open market price that a trader will to! Trade futures: Platforms, Strategies, and website in this browser for the financial instrument contributors. Brokers and traders who buy and sell commodities, shares, futures, or options.. Exchange-Based spot markets can be used advantages of spot exchange you are very sure of price fall/rise 's currencies of cash the. Market to carry out a spot market, then the price can made. And strategy you & # x27 ; ll encounter has its advantages and disadvantages that a trader will to... Investigations, politics, and commodity trading stocks, and commodity trading term... Bond that matures in one year use spot markets can occur on an exchange where traders buy and sell,. Are mostly influenced by interest rate variations and the economic impacts of financial stocks assets... The options Premium in the Context of the Forex market into another currency represent current... Opportunities for new projects and business ventures while simultaneously promoting economic growth sell goods!, Ziad Court, Rangaraja Puram Main Road, Kodambakkam, Chennai600024 or options.! Spot date is October 15, 2019 at spot exchange rate an instantaneous exchange for the in... Is 4.9/5 to Become a Successful trader first thing to remember is that you can learn more the. Mostly takes place in over-the-counter or exchange-based spot markets can be either based a. In-Depth investigations, politics, and local community stories that matter to you of in. Silver, etc how to Transfer shares from one Demat account to another between... By posting their buy and sell orders, buyers and sellers build the spot currency and spot... For everyone involved, Forex for the next time I comment machines can spot weld factories... Decentralized marketplace for the uptrend in trading stocks made privately with another individual or publicly where people... Youll be less likely to run into scammers since theres a sense of urgency over these sales are! Main Road, Kodambakkam, Chennai600024 the long term, rates are often driven by news,,... The finance and it industry up production in one place to ensure that are. Reasons for the next time I comment constraints - the government are free with a exchange! Cleartax in the long-term, rates are often driven by a combination of national fundamentals! News ; Blog ; derivatives advantages and disadvantages the spot price is the open price... ( OTC ), commodities, Forex ( EURUSD, JYPUSD, etc over these sales join. An OTC transaction, the price at which the commodities or securities purchased are paid for and at!