Crossword Genius

Market of free commerce, initially (3)

Ross

I believe the answer is:

eec

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'market' is the definition.
The definition and answer can be both groups as well as being singular nouns.
Maybe there's a link between them I don't understand?

'of free commerce initially' is the wordplay.
'of' says the answer is hidden in the clue.
'EEC' can be found hidden inside 'free commerce initially'.

Can you help me to learn more?

(Other definitions for eec that I've seen before include "Organisation created by the Treaty of Rome in 1957" , "It's now the EU" .)

I've seen this clue in the Evening Standard.
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