Foreign exchange market is the largest and most liquid financial market in the world. Operators of large banks, central banks, currency speculation, corporations, governments and other financial institutions. The average number of daily global currency markets and related markets is continuously growing. Daily circulation was allegedly more than U.S. $ 3200000000000 April 2007 Bank for International Settlements. Since then, the market continues to grow. According to Euromoney's annual FX Poll, additional volumes grew by 41% between 2007 and 2008.
From $ 3980000000000 daily global turnover, trading in London accounted for around $ 1360000000000, or 34.1% of the total, making London by far the global center for foreign exchange. Second and third place in accordance with New York trade accounted for 16.6% and Tokyo accounted for 6.0%. In addition to "traditional" turnover of 2.100 billion U.S. dollars in derivatives are traded.
Exchange-traded FX futures contract was introduced in 1972 the Chicago Mercantile Exchange and are active, compared to most other futures contracts traded.
Many other developed countries also permit the marketing of FX derivatives (such as currency futures, currency futures and options) of these exchanges. All developed countries are fully convertible capital account. Most of the newcomers have no relation to the overall change in the FX derivatives, capital account controls. But some selected developing countries (eg, Korea, South Africa, India, ) have successfully tested the Futures Exchange, in spite of the fact that some controls on the capital account.
No comments:
Post a Comment