Dynamically Complete Market
In order for a market to be complete, it must be possible to instantaneously enter into any position regarding any future state of the market. In contrast, a market is called dynamically complete if it is possible to construct a self-financing trading strategy that will have the same cash-flow. In other words, a complete market allows you to place all of your bet at once, while a dynamically complete market may require that you execute subsequent trades after making your initial investment. The requirement that the strategy be self-financing means that subsequent trades must be cash-flow neutral (you cannot contribute or withdraw any additional funds). Any complete market is also dynamically complete.
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