Final answer:
Long-term maturity is not characteristic of money market instruments, which are instead known for their liquidity, low risk, and short-term maturities.
Step-by-step explanation:
The characteristic that is not a feature of a money market instrument is long-term maturity. Money market instruments are known for their liquidity, meaning they can be quickly converted into cash. They are also known for being low risk and having short-term maturities, typically less than one year.
In contrast, capital markets deal with longer-term securities. Therefore, out of the given options, long-term maturity is not characteristic of money market instruments, which generally helps to provide financial stability with less exposure to volatility.