Structure

 
Structure
StructureDecentralised 'interbank' marketMain participants: Central Banks, commercial and investment banks, hedge funds, corporations & private speculatorsThe free-floating currency system arose from the collapse of the Bretton Woods agreement in 1971Online trading began in the mid to late 1990'sSource: BIS Triennial Survey 2007Trading Hours24 hour marketSunday 5pm EST through Friday 4pm EST.Trading begins in the Asia-Pacific region followed by the Middle East, Europe, and AmericaSizeOne of the largest financial markets in the world$3.2 trillion average daily turnover, equivalent to: More than 10 times the average daily turnover of global equity markets1More than 35 times the average daily turnover of the NYSE2Nearly $500 a day for every man, woman, and child on earth3An annual turnover more than 10 times world GDP4The spot market accounts for just under one-third of daily turnover