The spot market was known for its fast delivery and I wanted to know more about how it worked and what function it had in relation to us.
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The spot market had a rate that was attractive enough for us to buy immediately and we promptly exercised our option at that rate.
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The origin of spot market was in 1935-40. Grain, gold, crude oil, etc are traded in exchange or over the counter (OTC) or open spot markets in early days, which guaranteed immediate delivery.
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