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(wholesale market)
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(brokers)

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(market makers)
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:
20.000.0000 $
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(spot) (forward) (swap).
spot
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90, 180, 270, 360 ,
).
spot forward
( ) swap.
: http://www.euretirio.com/2010/06/agora-synallagmatos.html#ixzz1EQIWtaoV


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1988-2007,
(:).

(. Foreign exchange market, . Forex)



[1]
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[2] [3]) ,
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(wholesale market)
(retail market)

(wholesale market)


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SWIFT ( Society
for Worldwide Interbank Financial Telecommunication )[4]

(retail market)

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(retail traders) (brokers))
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. 2010
" " 10%
(spot market).


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(market makers, dealers), (brokers) .
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5. arbitrageurs
. arbitrageurs
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6. (hedgers)

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7. (market makers, dealers)

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8. (brokers)
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( 1 )

[5]

1

USD ($)
1,3064

2

JPY ()
109,2804

1
3

GBP ()
0,8442
9
3
4

CHF (Fr)
1,2498
0

5

HKD ($)
10,1044

6
AUD ($)
1,3011

7

CAD ($)
1,3182

8

SEK (kr)
8,8470

9
NZD ($)
1,7485

1880 1929.
' $.
1944
,
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1971 ,
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1.
2.
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(spot market)
, 2 - 3

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(forward market)

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utright

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(Swap)

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(currency future)

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(foreign exchange option)


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1.
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2. over the counter trading
3. over-the-counter
4. SWIFT
,
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5. (22/12/2010)
6. ()
7.

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12 1997 1,59
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.

, Wall Street .
.
site
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moneychangers .

, 24
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. 1 1999 ,
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Dominique Mole

http://www.forexpros.gr/education/%CE%93%CE%B5%CE%BD%CE%B9%CE%BA%CE%AD%C
F%82%CE%A3%CF%85%CE%BD%CE%B1%CE%BB%CE%BB%CE%B1%CE%B3%CE%AD%CF%82/%CE
%99%CF%83%CF%84%CE%BF%CF%81%CE%AF%CE%B1-%CF%84%CE%B7%CF%82%CE%91%CE%B3%CE%BF%CF%81%CE%AC%CF%82%CE%A3%CF%85%CE%BD%CE%B1%CE%BB%CE%BB%CE%AC%CE%B3%CE%BC%CE%B1%CF%
84%CE%BF%CF%82-88

1971,
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Hedge Funds
Hedge Funds ,

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funds, ,
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. FXGM .
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