Zurich is an invisible foreign exchange market market in Zurich by the foreign exchange market foreign exchange transactions between banks by phone or fax, not in foreign exchange through foreign exchange brokers or middlemen. Zurich and London foreign exchange market foreign exchange market and the New York foreign exchange market is different.
Zurich foreign exchange market - History
Zurich, Zurich, Switzerland, the foreign exchange market foreign exchange market is a historical tradition of the foreign exchange market in the international foreign exchange transactions in an important position. This is because the Swiss franc is freely convertible currency; partly because Switzerland is a neutral country during World War II, the foreign exchange market were not the impact of war, has always insisted on opening up. Its original volume ranks fourth in the world, but in recent years by the Singapore foreign exchange market over.
Zurich, as an international financial center, has many special advantages.
First, the permanent neutrality of Switzerland is a free economy, economic prosperity, political stability, protection of private property, is considered safe storage in the international hot money. Switzerland on the export of capital into the basic unlimited, center of international capital allocation.
Secondly, in Zurich in the international foreign exchange trading at an important position. In this regard because CHF is the most stable currency the world, one Swiss franc historically there have been only once in 1936 and 1971 devaluation had a rise, even after World War II European currencies have against the dollar, the Swiss franc remains the currency parity; the other hand in the past, "European Payments alliance" exists era, the Swiss franc is the only freely convertible currency U.S. dollar, which makes the Swiss franc in many countries, including the sterling area was likely to transfer the account belonging to the trade of those countries enjoy a special status. So, when those countries have foreign exchange controls, Zurich is more important than the New York clearing house.
Third, the center of Switzerland in Europe, complete communication equipment, transport facilities, as well as traditional foreign exchange program, skilled business experience, advanced banking facilities that have made Zurich to become a global international financial center.
Zurich exchange market - features
Zurich, the first foreign exchange market, with London, New York and Tokyo foreign exchange market is different, foreign exchange transactions between the bank by phone, fax, rather than through foreign exchange brokers foreign exchange broker or indirectly;
Second, the U.S. Zurich occupy an important position on the market, foreign exchange price in Swiss francs, but is not expressed in U.S. dollars, the result is that the foreign exchange market foreign exchange trading is not for CHF but mainly U.S. dollars.
Foreign exchange transactions between European currencies to the U.S. dollar as most of the media; professional foreign exchange transactions between banks mostly use the U.S. dollar and other currencies; the dollar as the Swiss central bank intervention in foreign exchange market is an important tool. Zurich has a good foreign exchange market organization and efficiency, can be spot, forward and other foreign exchange trading.
Zurich exchange market - exchange offer
Zurich, the foreign exchange market using direct quotation, in Zurich the price of foreign currency on the foreign exchange market, but not in Swiss francs, expressed in U.S. dollars. And the U.S. dollar as the medium of exchange market intervention tool, dollars in the market has a special importance. Foreign exchange transactions between European currencies, but not common in most of the trading, the dollar is always as a vehicle currency. Foreign exchange transactions between banks are mostly in U.S. dollars and other foreign currency exchange rates.
