At present, there are about 30 major foreign exchange markets in the world, distributed in different countries and regions.According to the traditional regional division, the world's major foreign exchange markets can be divided into three parts: Asian market, European market, and North American market.Among them, the most important foreign exchange markets are the London market, New York market, Tokyo market, Hong Kong market, Singapore market, Zurich market, Frankfurt market, Paris market, etc.This article LTG GOLDROCK first share with you the London foreign exchange market and the New York foreign exchange market ~
London foreign exchange market
London is a historic international financial center, and its currency market and capital market are international markets.The prosperity of the foreign exchange market has consolidated London's position as an international financial center.The reason why London can become the world's largest foreign exchange market has many reasons such as history, geography and soft environment.
The London foreign exchange market is composed of British banks and foreign banks in London, foreign exchange brokers, other non -bank financial institutions and Bank of England in London's branches, foreign exchange agents, other non -bank financial institutions operating foreign exchange businesses.There are about 300 foreign exchange banks in the London Foreign Exchange market, including foreign exchange banks holding a license in England, including overseas branches of major clearing banks.Almost all of the 100 largest commercial banks in the world have set up branches in London.They provide customers with various foreign exchange services and carry out large -scale foreign exchange transactions with each other.There are more than 90 foreign exchange brokerage agencies in the London foreign exchange market. These foreign exchange brokerage agencies form a brokerage association to control transactions between banks in the London foreign exchange market.
There is no fixed trading place in the London foreign exchange market, which is traded through electricity, telegraph, telephone and computer control systems.The trading currency on the London market includes almost all the convertible currencies. The largest foreign exchange transaction is a British pound against the US dollar transactions, followed by the British pound against the euro and the pound against the yen.In addition, multilateral transactions such as the US dollar against the euro, the euro against the yen, and the yen against the US dollar are also common in the London foreign exchange market.
New York foreign exchange market
The New York foreign exchange market is not only the center of the US foreign exchange business, but also one of the most important international foreign exchange markets in the world. Its daily transaction volume ranks second in the world and is also a liquidation center for global US dollar transactions.
The New York foreign exchange market consists of three parts: one is the foreign exchange trading market between banks and customers; the other is the foreign exchange trading market between the banks of New York; the third is the foreign exchange trading market between various banks in New York and foreign banks.The currencies traded in the foreign exchange market in New York include the currencies of the euro, the pound, the Canadian dollar, the yen, and the main countries in Central and South America.The New York foreign exchange market is a completely free foreign exchange market. The exchange rate quotation uses the direct price method (referring to the pound) and the indirect price method (other currencies outside the pound) to facilitate the US dollar transactions worldwide.
