Currencies are mainly traded over-the-counter (OTC) directly between two parties, referred to as the ‘counterparties’ of the transaction.

Market participants active in currency markets will wish to have relationships with a sufficient number of counterparty banks willing to transact and provide price quotes.

Millennium Global works with a pool of counterparty banks that account for a large proportion of overall foreign exchange market volume.

 

Keywords: currency overlay, currency management.