Exploring instruments such as stocks and bonds, as well as financial exchanges. A financial instrument is a document (real or virtual) representing a legal agreement involving some sort of monetary value.

Here is how I categorize financial instruments:

Instruments have a corresponding exchange market (EGs: stock exchange markets, forex markets), either formal or informal, where the traders exchange either directly or through brokers. Informal, immediate exchanges are called "spot exchanges".

One of the key differences between cash instruments and other instruments is taxability.

I also find these qualities of instruments interesting:

The famous key thing about exchanging financial instruments is:


There isn't much more to it. However when it comes to placing orders for buying or selling instrument, I want to summarize it myself even though it is explained everywhere ( http://www.sec.gov/answers/orderbd.htm, http://beginnersinvest.about.com/od/investing101/ss/stocktrading.htm, Order (exchange) [W], etc.). The main problem when others explain it is that they have ambiguous "or" statements that annoy the programmer in me.

Other modifiers are possible:

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