The NYSE is defined as a "spot" market purely and simply because it has a physical location.The NASDAQ,on the other hand,is not a spot market because it has no one central location.

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The definition of a spot market refers to the immediate delivery of a commodity or financial asset. Neither the NYSE nor the NASDAQ are spot markets because they primarily trade in securities and there is a delay in the settlement of transactions. Additionally, the NASDAQ does have a physical location for trading, although it is not as centralized as the NYSE.

The NYSE Is Defined as a "Spot" Market Purely and Simply