The act of exchanging the legal tender of one
country for another. Customer - The party that executes an Agreement
with FXAsia. Customer Account Application - The FXAsia Customer Account
Application, including all applicable addenda thereto. The Customer
Account Application is incorporated by reference into and constitutes
an integral part of the Customer Agreement. Currency Pair - The two
currencies that make up a foreign exchange rate. IE: USD/CHF.
In finance, the exchange rate between two
currencies specifies how much one currency is worth in terms of the
other. For example an exchange rate of 120 Japanese Yen to the Dollar
means that ?120 is worth the same as $1. An exchange rate is also known
as a foreign exchange rate, or FX rate. The Currency Market or Foreign
Exchange Market is the largest market in the world. By some estimates,
about $2 trillion worth of currency changes hands every day.
