Choice Market

A market where the spread between the bid and the ask price is zero, implying that the security can be bought and sold at the same price. These occurences are very rare and only occur in cases of extreme liquidity, as there is usually a bid/ask spread for security prices.

The foreign exchange market may be the closest to a choice market, with spreads on some currency pairs like the Euro/US Dollar near 1 pip or 0.01%.