I've a question concerning market structure that I have asked in this forum before, but haven't really received a response. I will ask it in its own thread.
How exactly does the interbank market close for the weekend? Can Reuters and EBS shut down Friday at 5pm EST, exactly like the Australian Stock Exchange does each day, or are orders matched at any time (including weekends)? If the deal fitting systems do shut down, then do the banks continue to trade through other mechanisms?
Moreover, how can the commencement of trading occur between the major banks in the close of the weekend? Is there an specific time that banks begin trading with one and other?
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