The foreign exchange market is an over-the-counter market where banks, brokers, and dealers trade currencies across global financial centers through electronic networks and telecommunication. The main players are large commercial banks, forex brokers, large corporations, and central banks, which enter the market to stabilize exchange rate fluctuations. Foreign exchange includes deposits, credits, balances payable in foreign currencies, instruments that can be paid in foreign currency such as drafts and letters of credit. The large commercial banks act as market makers, continuously buying and selling currencies. There are retail markets where banks deal with individuals and corporations, and interbank wholesale markets where banks deal with each other. The forex market operates globally 24 hours a day.