Читать книгу Currency Trading For Dummies - Kathleen Brooks - Страница 51

When people talk about the “currency market,” they’re referring to the interbank market, whether they realize it or not. The interbank market is where the really big money changes hands. Minimum trade sizes are one million of the base currency, such as €1 million of EUR/USD or $1 million of USD/JPY. Much larger trades (in the hundreds of millions) are routine and can go through the market in a matter of seconds. Even larger trades and orders are a regular feature of the market.

For the individual trading FX online, the prices you see on your trading platform are based on the prices being traded in the interbank market.

The sheer size of the interbank market is what helps make it such a great trading market, because investors of every size are able to act in the market, usually without significantly affecting prices. It’s one market where we would say size really doesn’t matter. We’ve seen spot traders be right with million-dollar bets, and sophisticated hedge funds be wrong with half-billion-dollar bets.

Daily trading volumes are enormous by any measure, dwarfing global stock trading volumes many times over. The most recent Bank of International Settlement (BIS) report, released in 2019, estimated daily FX trading volumes of over $6.6 trillion. Find out more at www.bis.org.