world market

This world market, which is primarily interbank, is the second money market of planet in term of total volume, behind that of the interest rates. It nevertheless is concentrated the most and the first for the liquidity of the most treated products, like the parity euro/dollar. Its daily volume was in 2004, 1.900 billion dollars US, is: 600 billion in cash transactions and 1.300 billion in quasi-uniquement in the long term in transactions private, according to the triennial study of the Bank for international settlements (BIS). The transactions, in volume, were: for 53% between banks; for 33% between a bank and a manager of funds or a nonbanking financial institution; and finally for 14% between a bank and a non-financial company .

The interbank market is a market where the banks exchange between them financial credits and borrow or lend in the short run, and where also the central bank intervenes to bring or take again liquidities. One can distinguish, although there can be other operations (for example on the derivatives) the monetary market interbank (see market money) where the placements and refinancings in the very short term take place. The average rates used on this market for each duration (of 1 month in 12 months) are published each day, under name, for the zone euro, of Euribor (sometimes translated by French Tibeur). The day-to-day rate is for its part called Eonia the establishments admitted to treat on the interbank market, in France, are: the credit institutions (trade banks), the institutions (Treasury, Central Bank, Case of the Deposits), the companies of investment (but these last are not allowed with the operations of refinancing of the ECB) the interbank market is a market private (in opposition to the organized market): the speakers treat directly and freely between them. They can pass via a broker .

exemple:

Australia All Ordinaries

France CAC 40

United Kingdom FTSE 100
United States S&P 500