what is a spot transaction 
a spot transaction dictates the sale or purchase of a commodity or a currency for immediate delivery on a specific date usually within two business days the deadline can shift a little however depending on the nature of the market involved 6the bottom linethe interbank market is decentralized it isn t regulated but most central banks will collect data from market participants to assess whether there are any economic implications this market has to be monitored because any problems can have a direct impact on overall economic stability brokers who put banks in touch with each other for trading purposes have also become an important part of the interbank market ecosystem over the years 