The document defines the financial market as a place where parties with excess funds (surplus funds) meet with parties lacking funds (deficit funds) through financial instruments (securities or bonds). It discusses the structure of financial markets with or without financial intermediaries. It also describes various types of financial markets such as capital markets vs money markets, spot markets vs forward markets, primary markets vs secondary markets, OTC markets vs location-based markets, and foreign exchange markets. Furthermore, it explains different types of financial institutions such as banks, insurance companies, brokerage firms, investment companies. Finally, it discusses characteristics, types and examples of financial instruments like stocks and bonds.