Interbank Market
a.k.a. Interbank
The top tier of the currency market, where big banks trade with each other directly or through electronic…
In plain English
The top tier of the currency market, where big banks trade with each other directly or through electronic platforms.
The interbank market is where the largest banks swap currencies in huge sizes, via platforms like EBS and direct connections. There is no central exchange: it is a network.
Prices set here flow down through liquidity providers and brokers to retail traders, with a markup at each step.
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