Hi Paul,

Wonder if this is a commodity? Or perhaps fx?

Spot would be normal for that.

Otherwise, as you know, à vue is sight, or perhaps on demand, but can't think of a context where that would fit with market.

hth
msg

The 'spot market' is usually referred to as 'marché instantané' or 'marché libre' or 'marché spot', although it is conceivable that someone might use this term for the foreign exchange spot market. It seems out of place because foreign exchange is not presented as such. It is possible to exchange one currency for another at an exchange office or bank, but that is the idea in French 'instantané'.

Another possiblity is 'call money', which most accurately would be 'argent au jour le jour'. The idea is essentially the same between call money and a sight draft. They are both payable (or returnable) immediately in one and the same currency. Drafts presented under a letter of credit (or any other draft for that matter) are quite frequently 'à vue'.

There is a difference with the spot market. Foreign exhange (fx) spots are usually due 2 days after they are dealt, unless indicated as tom/next, which means dealt one day in advance.

If the text is only about one currency, it cannot be spot, because that requires two currencies.

The only question I have is who wrote the original text. These terms are sometimes confused by people who don't work in the field of finance.

This is an educated guess based on 7 years experience as a senior staff bank accountant specializing in foreign exchange and derivatives accounting.