As forex market (Foreign Exchange market, FX market, including forex, currency market) is called the global market in which currencies (or short-term debts denominated in currencies, so-called foreign currencies) are traded. Supply and demand of foreign currencies meet here. The foreign exchange market with a daily turnover of approximately 4 trillion U.S. dollars in 2007, the largest financial market in the world. Here, no bond is present at a fixed exchange place but the market is created by a worldwide network of trading of foreign exchange takes place mainly by telephone or telex. A foreign exchange transaction involves the simultaneous buying and selling of different currencies in the interbank market. This form of exchange

relations, so that the value of each currency in the other are expressed. It is thus the nominal exchange rate as the price ratio between two currencies. The foreign exchange is traded on both spot as well as futures markets. Currencies are always traded in pairs. It is not only the U.S. dollar to buy: We always exchanged euros for dollars, Dollars for yen and so on. Therefore, exchange rates are always given in pairs, for example, EURUSD 1.5933 "for a zahlen An euro 1.5933 U.S. dollars at this example we see also that the quote is on many currency pairs to the fourth decimal place . In trading between banks and larger companies, the courses are now at 5 or 6 decimal places quoted. Background is the introduction of the euro and the increasing competition from the trading partner. The introduction of the euro has halved compared with the German mark and the margin has meant that a trader can barely even stand out positively from the other. The trade is not running on a centralized exchange, but usually directly between financial institutions on appropriate dealer networks. Increasingly, corporations are also among the participants, brokers and private speculators. Is traded around the world and usually only on weekdays (the dollar is not traded on U.S. holidays, the euro is not the 1st of May) round the clock so (23h - 23h Fri GMT), so that the investors involved in any relevant can react events.