"The is not located in any one place, but is a global network of banks, brokers and foreign exchange dealers connected by electronic communications systems."

The foreign exchange market

Explanation:

The foreign exchange market is the market which is not located in a particular place due to the fact poeple from all around the world are connected through electronic communications system which makes communication to happen at any where including any point in time.

Foreign exchange market make it possible for global network of banks, brokers and the poeple who main business is to engage in foreign exchange to communicate from anywhere they are in world for the purpose of foreign exchange.

Example in a case where a company or organisation wishes to convert their currencies instead of going to the foreign exchange market they will rather go to any nearest bank or foreign exchange dealers around them which is why foreign exchange market is not located in a particular place inorder to make the exchange of currencies easy and effectively for every one around the world.