Historical version 7 of Category Markets (view current version)
There are actually three distinct meanings of the word "market":
Consumer Markets
Markets like Camden Market or Portobello Market have small stalls, selling to individual members of the public. They may be catering to the tourist, or to the locals.
Most of the markets in the Guide are in this category.
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.
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.
- London Stock Exchange - equities
- LIFFE - derivatives
- London Metals Exchange
- International Commodities Exchange
- International Petroleum Exchange
- EDX
Also of note is Lloyd's, 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.