文档介绍：第三章外汇市场与外汇交易 FOREX Market & Transactions
An Introduction of FOREX market
An introduction of FOREX transactions
FOREX transactions
第一节外汇市场概述 FOREX market overview
1. What is FOREX Market?
2. Categories
3. FOREX Market Structure
4. Participants in FOREX Market
5. Market Maker
6. Specifications
7. Functions of FOREX Market
1. What is FOREX Market
外汇市场是指以外汇银行为中心,由政府当局、进出口商、外汇经纪人和其他买卖外汇者进行外汇交易的场所。
The foreign exchange market provides the physical and institutional structure through which the money of one country is exchanged for that of another country, the rate of exchange between currencies is determined, and foreign exchange transactions pleted.
2. Categories
银行同业批发市场Intra-bank wholesaling market
广义的外汇市场Wholesaling and retailing market
抽象的外汇市场& 具体的外汇市场
自由外汇市场& 平行外汇市场& 外汇黑市
3. Structure
Customer Market
客户市场
Inter-Bank Market
银行同业市场
Central mercial Bank Market 中央银行与商业银行
4. Participants in the FOREX market
客户,外汇供求者Customer, FOREX supplier: importers, exporters, international portfolio investors, multinational firms, and tourists.
银行同业 Banking: Bank and non-bank foreign exchange dealers.
外汇经纪人 Foreign exchange brokers
投机者、套利者 speculators and arbitrageurs
中央银行与外汇银行 central banks or governments
5. Market Maker
6. Properties of FOREX Market
全球外汇市场的时空已连为一体. A wholly integrated world market
各地外汇市场汇率差异缩小 Small exchange rate difference
各衡仍然是汇率波动得基本要素
方便客户的金融创新在不断涌现
外汇交易仍然以美元为中心
中央银行和国际联合干预加强