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Spot market
A spot market is a market where a commodity or security is bought or sold for cash with immediate delivery. These are also called “physical” or “cash” markets. A few good examples of spot markets for Bitcoin and other cryptocurrencies are exchanges such as Coinbase, Bitstamp, Kraken and some others, where traders get their respective asset right after the trade was executed.
Futures trading platforms are using spot market exchanges to construct their index prices of underlying assets against which they settle the contracts.