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exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that
all transactions occur via computer networks between traders around the world, rather One unique aspect
of this international market is that there is no central marketplace for foreign than on one centralized
exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded
worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong,
Singapore, Paris and Sydney - across almost every time zone. This means that when the trading day in
the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be
extremely active any time of the day, with price quotes changing constantly.
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