FOREX CHANNEL > Forex glossary > Interbank markets
Forex dealing
Interbank markets

The forex markets are conventionally managed by the bank traders in which various brokers are supporting them. The participants are strictly restricted. The bank traders deal forex by DD(Direct Dealing) using Reuter dealing machine or hitting brokers' prices they provide for on the phone call. The interbank markets have no physical place or no area to trade, and those are quite virtual markets unlike the exchange traded derivatives. The interbank markets start from on Sydney, and next, Tokyo would take over. Then, Hong Kong, Singapore, the continental Europe and London market will open succeedingly. The London market is most active in forex trading. Finally, the forex market ends with New York close. In this way, the interbank markets work well 24 hours continuously.
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