I would like to speak about participants of the Forex market.
Banks of commerce.
Main group of participants of international currency Forex market are banks of commerce. They conduct the basic volume of currency transactions at own expense and on the instructions of clients. Other participants of the currency market keep the accounts in banks of commerce and direct them bids and sale of one currency for other for own needs (conversion operations) and also are credited and on the contrary keep in banks the deposits. Banks, being the specialized organizations accumulate (through operations with clients) market demands (supply and demand) and if are not capable to satisfy these requirements satisfy them through other banks. Therefore Forex as a matter of fact is not an exchange, in strict sense it is the market of interbank transactions. Banks of commerce also conduct speculative trading at the expense of internal funds.
The firms, which are carrying out the foreign trade operations.
The firms, which are carrying out operations on import, present demand for a foreign exchange (for purchase of goods) and the offer of the national currency corresponding to it. The companies that are carrying out export operations create the foreign exchange offer (obtained for sale of goods) and corresponding demand for the national currency necessary for the wage, other costs and taxes. Besides, both those and others place the free rests of currency on the abacus in deposits or securities or involves credits in various currencies depending on interest rates and own expectations. As a rule, all these operations are done through banks of commerce.
Funds and the companies, which are carrying out foreign investments.
The international investment foundations, and also the large commercial corporations, which are carrying out activity abroad, operate own holdings of securities (for example, government stocks and bonds of the private companies), nominated in various currencies or keep large deposits in banks of commerce for the purpose extraction of profit on such investments.
Central banks make functions of maintenance smoothness of fluctuations rates of the national currency, management of reserves in a foreign exchange, adjustment of rates of refunding and liquidities of the national market.
Currencies also bargain at internal national exchanges. Besides at exchanges the significant part of the standardized derivative instruments on currency bargains: futures, options etc.
The broker companies.
The broker companies attend to data of the buyer and the seller of currency in the event that between them still there are no stable counter agency agreements. For the intermediary brokerage offices levy a brokerage, usually in the form of percent from an amount of transaction.
Dealing centers, dealing companies.
The dealing centers play a role of original intermediaries, working with the small sums of physical persons and accumulating them for banks of commerce.
Private persons conduct the big spectrum conversion and marginal arbitrages, present a demand for currency for tourism, purchases of goods abroad, to wages conversion etc., and also conduct speculative trading.
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