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Retail or client market and wholesale or interbank market

Distinguish between retail or client market and wholesale or interbank market for foreign exchange?

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Market for the foreign exchange seemed as the two-tier market.  One tier is wholesale or interbank market and the other one is retail or client market.  International banks offer the core of FX market.  They behave as willing in order to buy or sell the foreign currency for their own account.  These international banks may serve their retail clients, individuals or corporations, in performing foreign commerce or forming the international investment within the financial assets which needs foreign exchange.  Retail transactions account only for about 16 percent of the FX trades. Other 84 percent is the interbank trades between international banks, or some non-bank dealers who are large enough to transact within the interbank market.

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