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Definition of money market
Money   market   is   some   of   the   global   financial   market   that   deals   with   short   term lending   and   borrowing. It is often used as a solution to short-term cash needs by government,   large institutions and sometimes, indviduals. Some said that money market is quiet a low-risk investment, but they do not promise particularly a high gain of profit.   Typically,   transaction   in   money   market   will   be   of   very short   duration and   will   be of   a particular   type   of   dealing   called   ‘paper’.   The   papers   are   treasury bills, repurchase   agreement   and   foreign   currency   swaps.   Period   of   time   the   transaction   may   range   from   one   day   to   13   months, and   it   is   actually   short   term   approach   that   sets   money   markets   apart   from   capital   market.  

According to Crowther, “ money market is a name given to the various firms and institutions that deal in various grades of near money ”.

According   to   Nadler and Shipman, “ a money market is a mechanical device through with short term fund are loaned and borrowed through which a large part of the financial transactions of a particular country or world are degraded.   A money market a distinct from but supplementary to the commercisl bsnking system “.

A money market consists of a well organized banking system. Many financial instruments are used for transactions in money market. It is perfect mobility of funds in a money market. The transactions in money market is in a short term nature.

According to ‘qfinance dictionary’, money market means a market in which short term financial instruments such as certificates of deposit, treasury bills, commercial papers, and banks deposit are traded.

The common definition of money market is “a short term market that deals with different money market instruments”. There is a few important issues that should we know in order to understand what is money market. They are:-
  * money market...

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