The interbank market is made up of many banks trading with each other around the world. The banks themselves have to determine and accept sovereign risk and credit risk, and for this they have many internal auditing processes to keep them as safe as possible. The regulations are industry imposed for the sake and protection of each participating bank.
Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is arrived at through supply and demand. Due to the huge flows within the system, it is almost impossible for any one rogue trader to influence the price of a currency. Indeed, in today's high-volume market, with between big money being traded per day, even the central banks cannot move the market for any length of time without the full coordination and cooperation of other central banks. This is a manual to successful Forex trading. Cop a copy