Category Markets
There are actually three distinct meanings of the word "market":
Retail Markets
Markets like Camden Market or Portobello Market have small stalls, selling to individual members of the public. They may be catering for the tourist, or for the locals.
Most of the markets in the Guide are in this category.
Included in this category are farmers markets, some of which have wholesale trading as well.
Wholesale Markets
More traditionally, the market place was where wholesale goods were bought and sold. Although much of the bulk trading of goods is done between companies direct to warehouses, there are still markets that deal in bulk produce, mainly for the catering and restaurant trade:
- Smithfield Market - Meat. Here you can buy a whole pig or bull carcass
- Billingsgate Market - Fish.
Many of these have moved from central locations. For example Covent Garden Market has moved to New Covent Garden Market in Vauxhall.
Financial Markets
Before the start of the 21st century, the London financial markets have abandoned "Open Outcry", in favour of "All Electronic" trading.
Previously, there were very chaotic places with much shouting and gesturing taking place, called dealing pits. Nowadays, we have virtual markets that exist in cyberspace. There are still physical buildings, but these house IT suites and market operations staff.
The following financial markets operate from London:
- London Stock Exchange - equities
- LIFFE Euronext - derivatives
- London Metals Exchange
- InterContinental Exchange (ICE)
- International Petroleum Exchange (IPE)
Also of note is Lloyd's of London, which is home of the London insurance market. This is one of the places where you can (in theory) get an insurance policy against anything, for a price.