Foreign exchange
غير شكل بروفايلك في فيس بوك
In foreign currency
Exchange Group ratesCurrency exchange rate regime from fixed rateFloating rateLinkedfutures market for currency exchange forex RetailfutureNon ProductsCurrencyCurrency delivery options exchange swapForeign swapCurrencySee alsoBureau currency / exchange office (Office)Exchange (Forex, FX or FX market) is a decentralized world of currency trading at the retail financial market. financial centers worldwide as a leading trading between a number of different types of buyers and sellers every day except weekends. Exchange market determines the relative value of different currencies. [1]The main goal is to help the currency of international trade and investment companies to convert one currency into another currency. For example, allow U.S. companies to import British goods and to pay a pound, although its revenue in dollars. It supports the speculation, and this contributes to the carry trade, where investors are providing money and nyzkodohidni (investment in) the currency of high performance, and as (he said) can lead to loss of competitiveness in several countries. [2]common currency transaction, the buyer of the single currency in payment amounts in another currency. The modern foreign exchange market began in 1970 when the country gradually moved to a floating exchange rate regime with the previous rate, which was fixed as the Bretton Woods system.Exchange market is unique because· Turnover large, highly liquid• geographic distributionContinuous: 24 hours per day, except weekends, or trade of 20:15 GMT on Saturday until 22:00 GMT FridayForum · Currency various factorsincome thereof, and lower profit from the public compared to other fixed income markets• Use leverage to increase the size of the domain accountAs such, he was listed as an ideal, close to the perfect competition market, despite central banks manipulate the market. [Edit] According to the Bank for International Settlements [3] average daily turnover in foreign exchange markets in the world at about 3.98 trillion U.S. dollars, which was in April 2007.3,210,000 million dollar breakdown is as follows:Transactions · billion in 1005 "spot" on· 362.000 million in a front· 1,714,000 million in currency swaps· Reports estimated gaps 129000000000Contents [hide] • 1 size and market liquidity for market participants Bankso • 2 The 2.1 2.2 2.3 2.4 Central companieso Commercial Bankso hedge funds, investment management Firms speculators 2.5 2.6 Retail bank does not exchange brokers 2.7 Remittances companieso 2 8 / Sales Shipping Company performance • 3 • 4 Discussion FX Prices are determined by the Political Economic conditions limiting factors 4.2 4.1 4.3 · Psychology of the market, five of algorithmic trading in foreign Currency · The Financial Instruments June 6.1 6.2 6.3 6.4 Spoto 6.5 Future Forward SVAPO alternately · speculation August 7 · in risk aversion in foreign See also notes 9 • 10 ° • 11 External links[Edit] Market size and liquidity
Major turnover in the foreign exchange market, 1988-2007, measured in billions of dollars.FX market is the largest and most liquid financial market in the world. The sellers are the large banks, central banks, currency speculators, corporations, governments and other financial institutions. The average daily volume of global markets and increasing foreign exchange related. daily circulation was reported in the U.S. over 3200 billion dollars in April 2007 the bank to make international payments. [3] Since then, the market continues to grow. According to research FX evromanis annual capacity is 41% between 2007 and 2008 [4].Georgia 3,980,000 million U.S. dollars the total turnover of daily trade in London about 1360 billion, or 34.1% of the total, which is far from London to the center of global foreign exchange. The second and third places, respectively, registered trademarks in New York, 16.6%, and Tokyo, and recorded a 6.0%. [5] In addition, the volume of business, "traditional" of 2,100,000 million was traded in derivatives.Futures exchange contracts were introduced in 1972 at the Chicago Mercantile Exchange and are traded in comparison to most other futures contracts.Several other countries, and trade products solve FX (currency futures and currency options in the future), its exchange. All these developed countries are already fully convertible capital account.Most beginners do not allow the currency derivatives on exchanges for the comprehensive management of the capital account. But some selected countries (eg Korea, South Africa, India [1] [2]) have successfully experimented with foreign currency Futures Exchange, despite some control over the capital.FX futures volume is growing rapidly in recent years and is about 7% of the total, The Wall Street Journal Europe (05/05/2006, p. 20).10 currency traders [6]% of May 2010NAME market1 Deutsche Bank 18.06%2 UBS AG 11.30%11.08% 3 Barclays Capital4 Citi 7.69%5 Royal Bank of Scotland 6.50%6 JPMorgan "6.35%7 HSBC 4.55%8 Credit Suisse 4.44%9 Goldman Sachs 4.28%10 Morgan Stanley 2.91%Currency trading increased by 38% since April 2005 and April 2006 and has more than doubled since 2001. This is mainly due to the increasing importance of foreign currency asset class, asset management, fund growth, including hedge funds and pension funds. Different in different places, have made it easy for retailers to stock. In 2006, retail sales of about 2% of the total volume of the FX market's average daily trading volume of over U.S. $ 50-60 (see retail platforms) [7].Due to the exchange counter, where brokers / dealers negotiate directly with each other, no central exchange or intermediary. The largest mall in the geographical UK, mainly London, which, according to estimates IFSL increased its share in total volume of traditional transactions from 31.3% in April 2004, 34.1% in April 2007. Due to the predominance of London in the market, including pricing of the coin 's are usually on the London market. For example, the International Monetary Fund, when calculating the amount of SDR each day that passes the market price of Londonafternoon.The ten most active traders have 77% of revenues, 2010 - Research FX evromanis. [8] This large international banks continually provide the market as a bid (buy) and ask (sell) prices.Contest / ask spread is the difference between the price of bank or market maker to sell ("ask" or "sentence") and the price is the market will buy ("buy") of wholesale and retail customers. Users will buy in the market maker at the highest level "ask" price and sell the "Offer" lowest price, which refuses to "spread the cost of closing the deal. Distribution of minimum currency pairs are usually traded 0-3 points. For example, the proposed listing Ask EUR / USD 1.2200/1.2203 may be intermediaries in wholesale. The minimum trade is usually about 100,000 units of base currency, which is a "party" standard.The spread does not apply to retail customers of banks, which usually tell the difference tagging program 1.2100/1.2300, 1.2000/1.2400, or, say, cash or traveler's checks. Spot market prices for different producers, but EURUSD, usually no more than 3 points wide (ie 0.0003). Competition has increased in large businesses, and reduce the use of steam gallery big as small as 1 or 2, Bert.[Edit] Market participantsFinancial marketsPublic Market, organized marketSecuritiesBond MarketReal incomeCorporate peasant government bonds, municipal bonds, floating rate debt valuationHighPurseStockPreferred common share stockRegistered shareVoting Stock Exchangederivatives marketSecuritizationHybrid security of credit derivatives Futures ExchangeOTC non-organizedPlace marketForwardsSwapsOptionsIn foreign currencyrateCurrency ExchangeOther marketsmarketCommodity MarketReinsurance housing market with real moneyTrade PracticalParticipantsClearing houseFinancial RulesFinance Bank series and Banking, Corporate Finance Personal Finance ServiceV D • • EUnlike the stock market, exchange market is divided into levels of access. The interbank market top, consisting of large commercial banks and securities dealers. interbank market, are used, which differs from the demand and supply prices, clear and not generally available and it is unclear if the players outside the inner circle. The difference between purchase price and offers expanded (0 / 1 2.1 Icon now some currencies such as euros). This is because the volume. If a trader can guarantee large numbers of transactions for large amounts, can call a small price difference between buying and selling better known as spread. The levels of access that make up the foreign exchange market determines the value of "line" (the amount for which they work). Higher interbank market layer is 53% of all transactions. So normally, the relatively small banks, large multinational corporations, the (coverage and pay employees in different countries), hedge funds and some large foreign exchange market retail metals. According to Galati and Melvin, "Pension funds, insurance funds in general and other institutional investors have an important role in financial markets in foreign exchange markets in general, and particularly since early 2000." (2004) In addition, he said: "Hedge funds increased significantly during the period 2001-2004 in terms of number and overall size" Central banks also participate in the exchange market, currency straighten their economic needs.[Edit] Banksinterbank market serves the majority of commercial turnover and large number of speculative trading every day. A large commercial bank can billions of dollars every day. Some of the business is conducted on behalf of clients, and much has your table, trade in your account. Until recently, foreign broker, a large number of business support and inter-trade-related anonymous fellow with a small fee. But today, most of the company moved to more efficient electronic systems. Squawk Box Broker's allows traders sitting on interbank and heard in most trading rooms, but turnover of less than a few years ago.[Edit] Commercial enterprisesAn important part of this market comes from the financial activities of companies looking for foreign currency to pay for goods or services. Commercial companies often trade very small compared to banks or speculators and their trade is often a low interest rate of short-term market. However, an important factor in long-term trade in the direction of the exchange rate. Some multinational companies can be unpredictable impact when very large positions are covered by the impact, which are generally not aware of other market participants.[Edit] BanksNational central banks play an important role in the currency markets. They try to control money supply, inflation or interest in, and often have official or unofficial target rates for their currencies official. They can use their often substantial foreign exchange reserves to stabilize the market. Milton Friedman argued that the best stabilization strategy would be the central banks to buy when prices are low and sell when the price is too high, it means that the profits of trade with more accurate information. However, the effectiveness of central bank "stabilizing speculation" is doubtful because central banks do not go bankrupt if they make great losses as other traders, and certainly not conclusive evidence that they make a profit trading.World order or the hearing of the National Bank's intervention may be sufficient to stabilize the currency, but aggressive intervention might be used in various countries annually dirty floating exchange rate system. Central banks do not always achieve their goals.common resources, the market can easily destroy any central bank. [9] This was the scenario a few seem 1992-1993 ERM collapse, and recently in South Asia.[Edit] Hedge funds and speculatorsAbout 70% to 90% [citation needed] speculative currency transactions. In other words, the person or organization to buy or sell a currency without actually going to have supply of foreign currency at the end but they were just discussing the movement of the same coin. Hedge funds have acquired a reputation for aggressive currency speculation since 1996. They control billions of dollars in investments and billions more may be a loan and thus may overwhelm intervention by central banks to support almost any currency if the economic base of hedge funds into something good.[Edit] investment companiesInvestment companies (which typically manage large accounts on behalf of clients such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities. For example, the investment manager of international stock portfolio, buy a few pairs to sell foreign currency to pay for purchases of foreign securities.Some investment management companies with more speculative specialist currency overlay operations, which manages money for clients of influence, which is about profits and reduce risks. The number of such experts of very small company, many of them have plenty of assets under management (AUM) and thus can generate big business.[Edit] overseas retail brokerageRetail (individuals) is to increase the share of this market, as the size and importance. Currently, they participate indirectly through brokers or banks. Retail brokers also largely controlled and regulated by the United States and the CFTC and NFA earlier time in foreign currency fraud. [10] [11] to solve the problem that started NFA and CFTC (2009) have stricter requirements, including total net capitalization requires its members. As a result, many small and perhaps questionable brokers currently exist.There are two main types of private intermediaries FX offers the possibility of speculative currency trading, brokers and dealers or market makers. Brokers serve as an agent and client in a wider market of currency, is looking for the best prices on the retail market and to act on behalf of retail customers. They charge a fee or increase the price for the mining market. Dealers and market makers, by contrast, tend to major retail customers against the deal, and they are ready to bring the price agreed upon - a client can not operate at that price.Validation of the currency exchange service, the client should consider the consequences if she acts on the principal or agent.When the service acts as an agent, consumers tend to believe in the value of the most popular domestic prices FX dealer. When the service acts as principal, the commission is not paid, but the price offered may not be the best on the market because the supplier has a different side of the agreement will be a conflict of interest.[Edit] Companies nonbanking ExchangeNon-bank foreign companies to offer currency exchange and international money transfers for individuals and businesses. This is also known as foreign exchange brokers, but different, they do not offer speculative operations, but currency exchange with payments. This is usually a physical delivery of cash to a bank account. Send money home offers an exhaustive comparison of all the services offered by large companies to non-bank foreign exchange.Possibly, the UK, 14% of remittances or payments of capital [12], business exchange. [13] point of sale companies that generally offer a higher rate or cheaper than the bank charges the customer.These companies differ from company's money transfer / surrender, they usually offer a high quality service.[Edit] money transfer and deliveryRemittances company / companies engaged in the transmission of large volumes of shipments of low cost, in general, economic migrants to return home. In 2007, Aite Group estimates there are 369,000 million dollars in remittances (8% more than a year ago).The four largest markets (India, China, Mexico and the Philippines) to 95 billion dollars. The largest and best known provider of Western Union, with 345,000 employees worldwide, the UAE Currency and Financial Services Ltd. [Edit][Edit] Trading characteristicsMost currencies [3], the distribution of the reporting currency in the FX market turnoverName of the ISO 4217 code (Symbol),% market share (April 2007)1 and U. S. Dollar U. S. Dollar ($) 86.3%Euro 2 Euro (€) 37.0%3 JPY Japanese yen (¥) 17.0%Pound 4 Pound sterling (£) 15.0%5 Swiss francs CHF (RR) 6.8%6 AUD Australian Dollar ($) 6.7%7 Canadian dollars (CAD $) 4.2%8.9 Swedish kronor (SEK kg) 2.8%$ 8.9 Hong Kong Hong Kong dollars ($) 2.8%10 NOK Norwegian krone (kg) 2.2%11 New Zealand dollar NZD ($) 1.9%1912 MXN Mexican Peso ($) to 1.3%EUR 13 Singapore Dollar ($) 1.2%1914 South Korean won KRW (₩) 1.1%Other 14.5%Total 200%There is no federal or central market is eliminated most of the FX trade, borders and very little regulation. In connection with the prescription (OTC) nature of currency markets, there is, but the number of interconnected markets, where different currency instruments are traded.
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