CEVAP:

The characteristics of the foreign exchange market:

1. There is a single foreign exchange market: Due to the effective and fast communication networks, the foreign exchange market for any currency, for example the pound, is comprised of all the places such as İstanbul, Tokyo, New York, London, etc., where pound is bought and sold for other currencies. The increased electronic communication and contact of the different countries leads to a single foreign exchange market.
2. The participants of the foreign exchange market can act without meeting each other: The market functions electronically. In other words, the demand for and the supply of foreign currency meet electronically. Thus, there is no need for the participants to meet for a foreign exchange.
3. The foreign exchange market resembles to a perfectly competitive market: The foreign exchange market has some features of a perfectly competitive market of a real economy. There are many buyers and sellers in the foreign exchange market. Each participant has a small market share. There are no restrictions on the entry in and exit from the market. The participants are quite well-informed about the market.