Interbank Market
The Interbank Market is very similar to the foreign exchange market that is available to the public, where the difference is that in this market it is only accessible to banks and bankers. The banks using this interbank market have the option to use electronic platforms like what an everday Forex trader has access to, or they can trade directly with any other bank in the market.
There are two major electronic platforms that the Interbank Market uses, they are the ‘Reuters Dealing 3000 Matching’, and the ‘EBS – Electronic Brokering Services’. The Interbank market weighs up with a large proportion of what is traded within the whole Foreign Exchange sector.
The Interbank market does not have an exact location or place of exchange where the currency transaction occur. The Interbank market isn’t even a regulated market, it is in fact a decentralized market like the Foreign Exhcange Market, so any bank can access the market and trade currencies amongst other banks.