What type of transaction on the exchange market is executed immediately?

The correct answer is based on the nature of the various types of transactions within the exchange market. A spot transaction is characterized by the immediate exchange of currency or commodities at the current market rate. This means that when a spot transaction is executed, the involved parties complete the trade almost instantly, usually within a couple of business days, and it reflects the prevailing market conditions at that moment.

In contrast, a forward transaction involves a commitment to exchange a particular currency or commodity at a predetermined rate on a specific future date, thereby not being executed immediately. Similarly, futures are standardized contracts traded on exchanges that obligate the buyer to purchase (or the seller to sell) an asset at a predetermined future date, also not executed right away. Deferred transactions mean postponing a trade to a later date, which again does not align with the concept of immediate execution.

Thus, spot transactions stand out as the only type of transaction on the exchange market that is executed immediately, making it the correct choice.