What is the meaning of Market?

Traditionally, a securities' Market' has been a place-such as the New York Stock Exchange (NYSE)-where securities are bought and sold. But in the age of electronic trading, the term market is also used to describe the organized activity of buying and selling securities, even if those transactions do not occur at a specific location. In that sense, the NASDAQ National Market (Nasdaq), the NASDAQ Small-Cap Market, and electronic communications networks (ECNs) are considered stock markets.