spot market; cash market
Financial term for a market where assets are traded for immediate delivery, as opposed to futures or derivatives markets.
In the spot market for crude oil, prices are soaring.
先物市場 is the futures market, where contracts are traded for delivery at a later date, contrasting with the immediate delivery of 現物市場.
Compound of 現物 (genbutsu, 'actual goods' or 'spot') and 市場 (shijō, 'market'). The term is a direct translation of the English 'spot market'.