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Structure Decentralised, over-the-counter market, also known as the 'interbank' market Main participants: Central Banks, commercial and investment banks, hedge funds, pension funds, corporations private speculators The free-floating currency system began in 1973, and was officially mandated in 1978 Online trading began in the mid to late 1990's Source: BIS Triennial Survey 2004 Trading Hours 24 hour market Sunday 5pm EST through Friday 4pm EST.
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