FX trading

The word Forex comes from Foreign Exchange and indicates the international market where the currencies can be exchanged. Forex is a market that does not have a precise location, its “Over the Counter” (OTC) which is based on bilateral trade contractors, where they set the terms of the contract. This contract establishes the value of one currency against another, which is done after considering various international circumstances. The prices or exchange rates, distributed information in the international circuits are indicative, not operational and there are no regulations, amounts or dates. Indian foreign exchange market is one of the fastest growing foreign exchange markets in the world. Indian market shares a little less then 1 percent of total world market share. But growth rate of foreign exchange tread in India is higher than any other Asian country. It has suppresses several Asian markets like Thailand and Korea in recent times. Foreign Exchange Dealer�s Association of India (FEDAI) regulates the foreign exchange market in India. It was set up in 1958, and it started as an collaboration of financial institutions looking after matters related to international currency exchange in the country. It has no one above itself and is governed on its own and follows the guidelines of CA, 1956. Its major responsibilities are including making of rules governing the conduct of inter-bank foreign exchange business among banks with public. It also works with RBI for reforms and development of Indian forex market. The association FEDIA mainly consists of member banks like RBI, SBI and several privet and foreign banks. The main functions of FEDIA are as follows � Issue rates at real time to investors and banks, � Issuing license to the broker firms � Making rules and guidelines for Indian foreign exchange market � Maintaining balance between global liquidity and Indian market Forex market, Indian forex market, forex trading

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