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Fin 308 Test 1 Study Sheet Chapter 5 FX Market:FUNCTIONS ♣ Transfer purchasing power between countries ♣ Obtain/provide credit for international trade transactions ♣ Minimize exposure to the risks of exchange rate changes PARTICIPANTS ♣ Bank & nonbank FX dealers ♣ Individuals and firms ♣ Speculators and arbitragers ♣ Central banks and treasuries ♣FX brokers FX MARKET SUMMARY ♣ Global trading day – 24 hours.