The main participants in the forward markets are __________.

Forward markets are mainly used for trading customized contracts where two parties agree to buy or sell an asset at a future date for a fixed price. The key participants in these markets include commercial banks, which act as intermediaries; broker-dealers, who connect buyers and sellers; and investment banks, which facilitate large transactions and manage risk for corporate clients. Together, they provide liquidity, price discovery, and risk management in forward contracts.