I am reading about money markets and there is the following section:
"Money market is the short term financial market of an economy. In this market, money is traded between individuals or groups who are either cash surplus or cash scarce. Trading is done on a rate known as discount rate which is determined by the market and guided by the availability of and demand for the cash in the day to day trading. The repo rate of time works as the guiding rate for the current discount rate. Borrowing may or may not be supported by collaterals."
I find the entire passage too difficult to comprehend, is there a simpler explanation?