Tuesday, September 15, 2009

foreign exchange basics

The foreign exchange exchange market is global, and is conducted over-the-counter (OTC) through the use of electronic trading platforms,or by telephone through trading desks. some shorten the term to " forex" or "fx".


The OTC market is also known as the "spot" , "cash","off-exchange" forex market.(A spot transaction refers to an exchange of currencies at the prevailing market rate.)


futures and futures options on different currencies can be traded on centralized boards of trade or exchanges such as CME group.The spot/cash/OTC/off-exchange forex market is not amarket in the traditional sense, because there is no central trading location, or exchange.Rather,it is an interconnected telephone and electronic network of bank traders, dealers, brokers and fund managers for electronic transfers of money from one account into another account.
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