Global transformation of foreign exchange market structure

Abstract

In the article, the author considers the concept and structure of the modern foreign exchange market. It is found out that the concept of the global foreign exchange market is broader than the definition of the Forex market. Dynamics of the global foreign exchange market over the last fifteen years is analyzed. The structural indicators of the global foreign exchange market by transactions, currencies and currency pairs, location and categories of participants, location of transactions, trade practices are scrutinized. Special attention is paid to the determining of the role of certain categories of participants in the global foreign exchange market. The author reveals features and trends in the transformation of the global foreign exchange market structure in recent years under globalization.