The document defines and describes financial markets. It states that a financial market facilitates the exchange of financial instruments between buyers and sellers. It discusses the key components of financial markets, including the money market, primary market, secondary market, capital market, debt market, and equity market. The document also outlines various money market instruments such as treasury bills, commercial papers, certificates of deposit, and repurchase agreements. It notes that financial markets play an important role in economic development by providing funding for trade, industries, and capital formation.