1. Glossary > Asset Class
  2. Forex

“Forex” is short for “foreign exchange” market (also known as the “FX” market). It is on this market that different currencies are traded against each other. These transactions establish exchange rates: currencies are characteristically listed in pairs, with the exchange rate being the value of one currency against another.

Open twenty-four hours a day, five days a week, the forex market is the most liquid financial market in the world, as well as the largest in terms of volumes traded. Several thousand billion dollars are traded every day. The forex market is not centralised: market participants – financial institutions, such as central banks, and private investors, who most often trade via intermediaries such as brokers or banks – interact using electronic platforms.

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