The markets where foreign exchange is traded. This includes both spot markets, for immediate delivery, and futures markets for delivery on future dates at pre-arranged prices. There is no one place for this market, which operates via computer and telephone connections. The total turnover of world foreign exchange markets is enormous; it is many times total international trade in goods and services. A Bank of International Settlements survey from April 2016 reported the daily turnover on foreign exchange markets to be $5.1 trillion.