Jayden At present, there are about 30 major forex trading centres in the world, located in different countries and regions on all continents. Among them, the most important are London, Frankfurt, Zurich and Paris in Europe, New York and Los Angeles in the Americas, Sydney in Oceania, Tokyo, Singapore and Hong Kong, China in Asia, etc.
London Forex Trading Center. Average daily forex trading volume: $2.75 trillion. The global forex trading volume accounted for 41%.
In the London forex trading market, there are more than 250 designated operators. As forex trading brokers, they and foreign currency deposit brokers together to form forex trading brokers and foreign currency deposit brokers association.
In the United Kingdom during the implementation of forex trading control, forex trading is generally carried out through the forex trading broker. In October 1979 the United Kingdom abolished forex trading control, forex trading is not necessarily through the forex trading broker. London forex trading market forex trading is divided into spot transactions and forward transactions. Exchange rate quotation using indirect marking method, trading currency types, up to more than 80 kinds, often thirty to forty kinds. Transaction processing speed is fast and efficient.
London forex trading market on foreign currency hedging business is very active, since the development of the European currency market, London forex trading market forex trading and “European currency” deposit has close contact. European investment banks are active in the London market to issue a large number of European German mark bonds, so that the London forex trading market is international more prominent.
New York Forex Trading Center. Average daily forex trading volume: 1.4 trillion U.S. dollars. Global forex trading volume accounted for 19%.
New York forex trading market is one of the important international forex trading markets, its daily trading volume is second only to London.
The New York forex trading market is also an invisible market. Forex trading through the modern communication network and electronic computer, its currency settlement are available through the New York area interbank clearing system and the Federal Reserve Bank payment system.
Because the United States does not have forex trading control, no restrictions on the operation of forex trading business, the government does not specify the special forex trading bank, so almost all the United States banks and financial institutions can operate forex trading business. But the New York forex trading market participants to commercial banks, including more than 50 U.S. banks and more than 200 foreign banks in New York branches, agencies and representative offices.
The forex trading market in New York is divided into three levels of forex trading: between banks and customers, forex trading between domestic banks and foreign banks in the country and foreign banks. Among them, most of the forex trading between banks through forex trading brokers.
New York forex trading market has 8 brokers, although some specialise in a kind of forex trading, most or at the same time engaged in a variety of currency transactions. forex trading broker’s business is not subject to any supervision, to its arrangement of the transaction does not bear any economic responsibility, only in each transaction is completed to the seller to collect commission.
Tokyo Forex Trading Center. Average daily forex trading volume: $379.5 billion. Global forex trading volume share: 5.6%.
Tokyo is the economic, financial and commercial centre of Japan, and one of the most economically developed and wealthy cities in the world. Tokyo’s GDP accounts for about one-fifth of Japan’s GDP, which is sufficient to illustrate the weight of Tokyo’s economic strength in Japan.
Most of Japan’s many consortia and industrial and technological giants are located in Tokyo, such as Toyota, Sony, Honda, Toshiba, Canon and other companies, mainly involved in electronics, military, automotive, shipbuilding, chemical, electrical machinery, precision instruments and other fields.
Tokyo forex trading market is an invisible market, traders through modern communication facilities network for trading. Tokyo forex trading market participants have five categories: the first category is the foreign exchange specialized banks, namely the Bank of Tokyo; the second category is the foreign exchange designated banks, which refers to can operate foreign exchange business banks, a total of more than 340; the third category is the foreign exchange economist; the fourth category is the Bank of Japan; the fifth category is the non-bank customers, mainly corporate entities, import and export enterprises trading companies, life and property insurance companies, investment trust companies, trust banks etc.
