The forex market is an interbank market or inter-dealer that was established in 1971. It is also a market "Over-The-Counter", which means that transactions are conducted between the 2 parties agree to trade via telephone or electronic network. The Trading thus not centralized, as is the case for the large stock market (eg NYSE, ASE, CME) or as is the case of foreign exchange futures market and options on currencies, which are negotiated in particular markets. (more...)