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🌏 | Chinese authorities tighten regulations on foreign exchange transactions, clearly indicate prohibited acts such as price fixing


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Chinese authorities tighten regulations on foreign exchange transactions Clarify prohibited acts such as price fixing

 
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Sources have said that a self-regulatory body that monitors the foreign exchange market, led by the People's Bank of China (Central Bank), has requested commercial banks to cap the size of proprietary trading accounts.
 

[Beijing XNUMXrd Reuters] -China's National Foreign Exchange Administration (SAFE) released guidelines on foreign exchange transactions on the XNUMXrd, and the price ... → Continue reading

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Forex market

Forex market(Gai Kokukasejo,British: foreign exchange market) IsForeign exchangeA general term for places where transactions are conducted.Forex marketIt may also be abbreviated as (gaitameshijo).

Overview

In a broader sense, it includes the market for foreign exchange banks to customers, but in general, it refers to a place where interbank transactions are conducted in a narrower sense. For foreign exchange bank customers, mainly traders who import and export goods, ordinary economic transactions such as fare, insurance premiums, interest / dividends, overseas travel expenses, foreign securities investment, foreign direct investment, foreign lending There are people who carry out capital transactions such as attaching and borrowing. Money changers who exchange foreign currency are also customers of foreign exchange banks. Foreign exchange banks buy and sell foreign exchange with each other in order to adjust the foreign exchange holdings and excess / deficiency of funds caused by such transactions with customers. Transactions between this exchange bankInterbank transactionsAnd that marketInterbank market(Interbank market). Transactions in the interbank market include those conducted via foreign exchange brokers and those conducted directly by foreign exchange banks, but the latter is limited to mutually satisfying encounters, so via foreign exchange brokers. There are overwhelmingly many transactions. Interbank transactions are actively carried out not only within the market of one region but also widely in other regions or foreign markets through the head office or foreign banks. In the interbank market,政府-Central BankAlso participate. This is done to influence the exchange rate for a specific policy purpose, and this transaction isMarket interventionCalled.

Interbank transactions can be broadly divided intoSpot trading(Spot transaction),Futures trading,Swap transactionDivided into.In spot transactions (spot transactions), in principle, the consideration for transactions is delivered on the business day (second business day) following the transaction date.Futures trading is a transaction in which consideration is delivered on a specific date in the future, but the delivery date is usually a fixed date divided into monthly units such as 2 month or 1 months based on the delivery date of the spot transaction. (Conditions for delivery on a fixed date in each month).Swap trading involves conducting spot trading and futures trading in the opposite direction, or two futures trading in opposite directions with different delivery dates at the same time with the same amount and the same counterparty.

It holds in the interbank marketexchange rateIs the standard for the exchange rate of foreign exchange banks, but traders and others carry out various foreign transactions using this exchange rate as a given matter, and the supply and demand of foreign exchange resulting from this is reflected in the interbank market again. To. The interbank market is when there is an exchange where the parties gather at a specific place every day to buy and sell foreign exchange (Germany,Italy,France(Etc.) and when referring to an abstract place that integrates individual transactions by telephone, fax, or electronic media (computer line, etc.) (ニ ュ ー ヨ ー ク,UK,TokyoEtc.). Even in the interbank markets of countries where exchanges are located, interbank transactions other than exchange transactions are actively carried out. The exchange rate established by exchange transactions is usually the standard exchange rate for small-lot transactions with customers of foreign exchange banks.

In this way, there is no specific exchange like the stock exchange, and the market that is the center of trading changes over time, so it is also called the "sleepless market".[1].

World trading scale

International settlement bank(BIS) is2019 Per dayForeign exchangeThe statistics of the transaction amount of[2].. By country, the largest daily currency exchange transactionsUnited KingdomIt is the capital, accounting for $ 3 trillion, accounting for 5760% of the world.UKCan be said to be leading the world's exchange transactions.currencyStill in another forex world shareAmerican dollarBoasts an overwhelming trading volume.The top 10 countries and 10 currencies are as follows.

Daily Forex Trading Amount by Country (1)
RankingCountryTransaction amountWorld share
1British flag United Kingdom$3 billion43.1%
2United States flag America$1 billion16.5%
3Singapore flag Singapore$ 6330 million7.6%
4Hong Kong flag Hong Kong$ 6320 million7.6%
5Japanese flag Japan$ 3760 million4.5%
6Swiss flag Switzerland$ 2760 million3.3%
7French flag France$ 1670 million2.0%
8Flag of the People's Republic of China Chugoku$ 1360 million1.6%
9German flag Germany$ 1240 million1.5%
10Australian flag Australia$ 1190 million1.5%
Forex World Share by Currency (2019)
RankingcurrencyWorld share
1United States flag American dollar88.3%
2European Union flag Euro32.3%
3Japanese flag Japanese yen16.8%
4British flag British Pound12.8%
5Australian flag Australian dollar6.8%
6Canadian flag Canadian Dollar5.0%
7Swiss flag Swiss franc5.0%
8Flag of the People's Republic of China CNY4.3%
9Hong Kong flag Hong Kong dollar3.5%
10New Zealand flag New Zealand dollar2.1%
RemarksAre all in 1st to 3rd place.137.4%[3]

footnote

[How to use footnotes]
  1. ^ "The market that never sleeps-The "morning" of the foreign exchange market-". Money Outlook Lab.Tokyo Star Bank (November 2018, 11). 2021/2/12Browse.
  2. ^ Bank of International Settlements Retrieved November 2019, 9.
  3. ^ Total of the world's three major currencies

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