In Currency Exchange
Most foreign exchange trading firms are market makers and so are many banks. The market maker sells to and buys from its clients and is compensated by means of price differentials for the service of providing liquidity, reducing transaction costs and facilitating trade.
Read more about this topic: Market Maker
Famous quotes containing the words currency and/or exchange:
“Both of us felt more anxiety about the South—about the colored people especially—than about anything else sinister in the result. My hope of a sound currency will somehow be realized; civil service reform will be delayed; but the great injury is in the South. There the Amendments will be nullified, disorder will continue, prosperity to both whites and colored people will be pushed off for years.”
—Rutherford Birchard Hayes (1822–1893)
“Love is often nothing but a favorable exchange between two people who get the most of what they can expect, considering their value on the personality market.”
—Erich Fromm (1900–1980)