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Exchange

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Exchange
An Exchange is a market place in which financial contracts are bought and sold; traditionally in a central, physical location called trading floor.
    
More and more often, though, exchanges take place online between sellers and buyers of traded instruments.
    
The foreign Exchange (Currency or forex or FX) market exists wherever one Currency is traded for another. It is one of the largest financial markets in the world, and includes trading between large banks, central banks, Currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is over US$ 3 trillion.In finance, the Exchange rates (also known as the foreign-Exchange rate, forex rate or FX rate) between two currencies specifies how much one Currency is worth in terms of the other. For example an Exchange rate of 102 Japanese Yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 102 is worth the same as USD 1. The foreign Exchange market is one of the largest markets in the world. By some estimates, about 2 trillion USD worth of Currency changes hands every day.
    
A commodities Exchange is an Exchange where various commodities and derivatives products are traded. Most commodity markets across the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc.) and contracts based on them.
Posted by  LISA Life Insurance Settlement Association
 
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