The spot market is a financial market where financial instruments such as currencies, commodities, and securities are traded for immediate delivery or settlement. In the forex market, the spot market is where currencies are traded and settled for immediate delivery. In other words, spot trades are settled within two business days from the date the trade was executed. The spot price is the current market price of a particular financial instrument and is determined by supply and demand forces in the market. The spot market is also known as the cash market or physical market, as opposed to the futures market where financial instruments are traded for future delivery or settlement.