The FX market is an inter-bank or inter dealer network first established in 1971, when several of the major world currencies went to the floating exchange rate. It is considered an over-the-counter (OTC) market, which means that transactions are not carried out in an exchange, as some markets in shares, as the New York Stock Exchange (NYSE) or the Chicago Board Options Exchange (CBOE) where options and futures are traded. OTC trades exist as agreements between two parties that agree to trade via telephone or electronic network. As FX trading has evolved, many places have become market leaders. Today, London, England provides the bulk of transactions with over 32% of total transactions. Other trading centers listed in order of importance are New York, Tokyo, Zurich, Frankfurt, Hong Kong, Paris and Sydney. Parce que ces couvrent centers commerciaux la plupart des principaux fuseaux horaires, FX trading est un vrai march? de 24 heures qui exploite cinq jours par semaine. For example, as a trader in New York, you have access to the currency markets since late Sunday, when the market opens in Sydney for the start of the trading week. Malls around the world then connects to New York ends at 4:30 EST. Of course, right now, Sydney have reopened their doors for the next trading day so you can continue to operate continuously until the close of New York on Friday. The foreign exchange market has become the largest financial market in the world and it is not uncommon for more than 3 trillion USD traded each day. In contrast, the largest global market for New York Stock Exchange for equity with daily trading volume in the range of $ 60 to $ 80 billion is dwarfed in comparison to positive foreign exchange. Even when combining U.S. link and equity markets, total daily volumes do not approach the securities traded in the currency market.
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