In EnergyTrading a Market describes a standardized trading environment for a commodity and a geographic zone
The geographic zone is not necessarily the deliverylocation, but usually determines the valuation of the traded commodity
For example API#2 is a market based on the published index for coal in the Amsterdam, Rotterdam and Antwerp (ARA) location; a trade may deliver coal to a port in France but still be part of the API#2 market
Detail
A market combines attributes of commodity and location and may have an associated calendar and business rules, which provide defaults for any trade associated with the market