Market Participants The foreign exchange market consists of two tiers: The interbank or wholesale market(multiples of $1MM US or equivalent in transaction size) The client or retail market (specific,smaller amounts) Five broad categories of participants operate within these two tiers;bank and nonbank foreign exchange dealers,individuals and firms,speculators and arbitragers,central banks and treasuries,and foreign exchange brokers. 制卧价贸易大孝Market Participants „ The foreign exchange market consists of two tiers: „ The interbank or wholesale market (multiples of $1MM US or equivalent in transaction size) „ The client or retail market (specific, smaller amounts) „ Five broad categories of participants operate within these two tiers; bank and nonbank foreign exchange dealers, individuals and firms, speculators and arbitragers, central banks and treasuries, and foreign exchange brokers