Concept
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The World Trade Organization is an intergovernmental institution that governs the rules of trade between its member nations. The WTO has 164 member-countries which have ratified trade rules in their respective parliaments. The WTO employs many secretariat members (lawyers, economists and analysts) who ensure that these trade regulations are being upheld by all members. Members of the WTO are subject to periodic evaluations to ensure their policies are in line with trade agreements.
The WTO also provides auxiliary functions such as: Trade negotiations, Dispute resolution, Trade capacity development, Outreach
As indicated by these examples, in addition to countless others which are not mentioned here, the markets are influenced by a multitude of regulatory participants which operate both directly and indirectly.