According to QFinance, an e market is an electronic marketplace where business to business buyers and sellers can trade efficiently. Electronic markets are more flexible, convenient and generally less costly than physical markets.
QFinance states that there are three types of electronic markets: independent, group based and private. Independent electronic markets are public markets where buyers and sellers can trade together. Group based electronic markets are typically for certain buyers in a specific industry. Private electronic markets are established by specific companies to oversee purchasing processes. Electronic markets allow for better relationships between buyers and sellers, and improves the integration of business operations.