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Monday, June 1, 2009
Foreign Exchange Market
The Foreign exchange market is a large, growing and liquid financial market that operates 24 hours a day. It is not a market in the traditional sense because there is no central trading location or “exchange". Most of the trading is conducted by telephone or through electronic trading networks. The primary market for currencies is the “interbank market” where banks, insurance companies, large corporations and other large financial institutions manage the risks associated with fluctuations in currency rates.
Forex ECN Broker
Forex History - The Evolution OF FX Markets
The Gold Exchange and the Bretton Woods Agreement
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. Friedman, who had perceived sterling to be priced too high against the dollar, wanted to sell the currency, then later buy it back to repay the bank after the currency declined, thus pocketing a quick profit. The bank’s refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of $35 per ounce of gold.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.
But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.
The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
The Explosion of the Euromarket
A major catalyst to the acceleration of Forex trading was the rapid development of the eurodollar market; where US dollars are deposited in banks outside the US. Similarly, Euromarkets are those where assets are deposited outside the currency of origin. The Eurodollar market first came into being in the 1950s when Russia’s oil revenue-- all in dollars -- was deposited outside the US in fear of being frozen by US regulators. That gave rise to a vast offshore pool of dollars outside the control of US authorities. The US government imposed laws to restrict dollar lending to foreigners. Euromarkets were particularly attractive because they had far less regulations and offered higher yields. From the late 1980s onwards, US companies began to borrow offshore, finding Euromarkets a beneficial center for holding excess liquidity, providing short-term loans and financing imports and exports.
London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. London’s convenient geographical location (operating during Asian and American markets) is also instrumental in preserving its dominance in the Euromarket.
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. Friedman, who had perceived sterling to be priced too high against the dollar, wanted to sell the currency, then later buy it back to repay the bank after the currency declined, thus pocketing a quick profit. The bank’s refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of $35 per ounce of gold.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.
But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.
The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
The Explosion of the Euromarket
A major catalyst to the acceleration of Forex trading was the rapid development of the eurodollar market; where US dollars are deposited in banks outside the US. Similarly, Euromarkets are those where assets are deposited outside the currency of origin. The Eurodollar market first came into being in the 1950s when Russia’s oil revenue-- all in dollars -- was deposited outside the US in fear of being frozen by US regulators. That gave rise to a vast offshore pool of dollars outside the control of US authorities. The US government imposed laws to restrict dollar lending to foreigners. Euromarkets were particularly attractive because they had far less regulations and offered higher yields. From the late 1980s onwards, US companies began to borrow offshore, finding Euromarkets a beneficial center for holding excess liquidity, providing short-term loans and financing imports and exports.
London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. London’s convenient geographical location (operating during Asian and American markets) is also instrumental in preserving its dominance in the Euromarket.
forex trade?
1. forex is profitable and it is very exciting business. You may trade 5,5 days per wheek; 24 hours a day from Sunday night to Friday night. Main rules to win: Always have trading plan, Be patient - market always be there Don't be greedy, Don't set too big goals, Never risk more than 1%-2% of your trading capital, Always use reasonable stop loss orders. And note markets are not places - markets are people. If you are interesting I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG. They have very tight spreads. Total 25 currency pairs Gold and Silver. SPREADS: 2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF; 3 pips for GBPUSD, USDCHF, USDCAD, EURJPY; 4 pips for CADJPY, CHFJPY; 5 pips for NZDUSD, AUDJPY; 6 pips for EURAUD, GBPCHF, NZDJPY; 7 pips for EURCAD, GBPJPY; 8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF; 10 pips for AUDCAD, AUDNZD. LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure. MARGINS. The margin or leverage a client can have depends on the client's account equity. The table below shows margin requirements for the different equity levels: Less than 25,000 - 0.5% 25,000 to 1,000,000 - 1% 1,000,000 to 5,000,000 - 2% 5,000,000 to 10,000,000 - 3% Above 10,000,000 - 5% Please note that on weekends and holidays margin requirements remains the same. SWAPS are counted as negative as positive. Also is available swap-free accounts. STOP and LIMIT orders may be placed as close as 5 pips from market price TRADING TERMINAL Meta Trader 4. Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD. Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage. This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot). If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders. If you have any questions, please don't hesitate and contact me (press on my name). Good luck!
2. Forex Trade can be very profitable. I suggest that you join an investment club to earn and learn . I am in one and I average a return of 5.3% per month ,What is cool is there is no fees to join no fees to trade the club makes trades for free and also in weekly emails they inform the members as to what was traded and why.I will be more than happy to inform you how to get in touch with the club CFO Oh and just so you know, I do not make any money by you joining.
3. forex trade is profitable. u may get started by following the link below & the best broker is marketiva. Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
2. Forex Trade can be very profitable. I suggest that you join an investment club to earn and learn . I am in one and I average a return of 5.3% per month ,What is cool is there is no fees to join no fees to trade the club makes trades for free and also in weekly emails they inform the members as to what was traded and why.I will be more than happy to inform you how to get in touch with the club CFO Oh and just so you know, I do not make any money by you joining.
3. forex trade is profitable. u may get started by following the link below & the best broker is marketiva. Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..
The London Stock Exchange and Tokyo Stock Exchange
The London Stock Exchange and Tokyo Stock Exchange Inc, today signed an agreement, aimed at enhancing their international presence through co-operation on access arrangements and the developments of the new products.
This is the first time that the two exchanges have agreed to work together, and it is expected that the co-operation will bring benefits for investors, issuers and member firms.
This is the first time that the two exchanges have agreed to work together, and it is expected that the co-operation will bring benefits for investors, issuers and member firms.
Forex Vs Stock
FOREX-US dollar rises as jobs data dulls market optimism - Reuters FOREX -US dollar rises as jobs data dulls market optimism Reuters By Steven C. Joh
FOREX-US dollar rises as jobs data dulls market optimism - Reuters
FOREX -US dollar rises as jobs data dulls market optimism Reuters By Steven C. Johnson NEW YORK, April 3 (Reuters) - The US dollar rose against most currencies on Friday as data showed the United States continued to hemorrhage jobs in March, dulling recent hopes of a nascent recovery and enhancing the greenback's …
FOREX -US dollar rises as jobs data dulls market optimism Reuters By Steven C. Johnson NEW YORK, April 3 (Reuters) - The US dollar rose against most currencies on Friday as data showed the United States continued to hemorrhage jobs in March, dulling recent hopes of a nascent recovery and enhancing the greenback's …
Forex Income
Forex Income
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How To Trade The Forex Market
How To Trade The Forex Market With A Secret Trading Formula Only a Handful Of Traders Know..
What you are about to read will change how you trade forever. Not only will it change how you trade - it will change how you look at the market.
Here's why: There is a certain combination of simple indicators and technical analysis that can consistently and accurately tell you where to get into and out of the market with a massive profit and laser sharp accuracy.
You will not find this in any other book or web site.
This is a unique discovery.
This simple technique has never been used in this combination before.
I am not talking about some hypothetical mumbo jumbo here. I am going to show you exactly how to pinpoint your entry price, your exit price and where to put your stop loss.
Don't take my word for it. Listen to a full time, professional trader who has been using the method for over a year?
Listen To WhatMark RadloffHas To SayClick Here Now!
Hi - this is Mark Radloff from South Africa and I would just like to congratulate you Mark on a superb forex course. I was a student of yours almost a year ago and have used these exact same methods to produce spectacular results.
Because I use these methods every day I have no hesitation in recommending them to anyone who is even remotely interested in forex.
The course is easy to understand and will get you trading with a simple profitable system in no time. This will save new traders thousands of dollars on seminars that don't produce any results.
Of everything I have ever read on forex this is by far the best.Well DoneMark RadloffSouth Africa
Spectators can never understand what it is like to be a player. This is your chance to become a real player.
The problem with most new traders is that they lose their account before they even get a chance to understand how the market works. I know - I have been there:I know what it's like to watch every pip on the screen until your eyeballs go red.
I know what it's like to have a losing position turn bad just as your ready to take your profit.
I know what it's like to have your own money on the line. You see - everyone is an expert until it comes to putting their hard earn cash on the table. When you lose buddy, you feel the pain! If you have five or six losing trades in a row, you are ready to give up.
That's exactly how I felt when I started trading. I knew there had to be a better way. I was certain there had to be a way to trade that didn't put me on an emotional roller coaster. I also knew I could crack the code.
I started by reducing my trading method down to measurable parts, this allowed me to analyze the parts that didn't work.
This didn't happen overnight. It took 5 long years of sleepless nights, frustration and countless combinations of indicators and systems.
What you are about to read will change how you trade forever. Not only will it change how you trade - it will change how you look at the market.
Here's why: There is a certain combination of simple indicators and technical analysis that can consistently and accurately tell you where to get into and out of the market with a massive profit and laser sharp accuracy.
You will not find this in any other book or web site.
This is a unique discovery.
This simple technique has never been used in this combination before.
I am not talking about some hypothetical mumbo jumbo here. I am going to show you exactly how to pinpoint your entry price, your exit price and where to put your stop loss.
Don't take my word for it. Listen to a full time, professional trader who has been using the method for over a year?
Listen To WhatMark RadloffHas To SayClick Here Now!
Hi - this is Mark Radloff from South Africa and I would just like to congratulate you Mark on a superb forex course. I was a student of yours almost a year ago and have used these exact same methods to produce spectacular results.
Because I use these methods every day I have no hesitation in recommending them to anyone who is even remotely interested in forex.
The course is easy to understand and will get you trading with a simple profitable system in no time. This will save new traders thousands of dollars on seminars that don't produce any results.
Of everything I have ever read on forex this is by far the best.Well DoneMark RadloffSouth Africa
Spectators can never understand what it is like to be a player. This is your chance to become a real player.
The problem with most new traders is that they lose their account before they even get a chance to understand how the market works. I know - I have been there:I know what it's like to watch every pip on the screen until your eyeballs go red.
I know what it's like to have a losing position turn bad just as your ready to take your profit.
I know what it's like to have your own money on the line. You see - everyone is an expert until it comes to putting their hard earn cash on the table. When you lose buddy, you feel the pain! If you have five or six losing trades in a row, you are ready to give up.
That's exactly how I felt when I started trading. I knew there had to be a better way. I was certain there had to be a way to trade that didn't put me on an emotional roller coaster. I also knew I could crack the code.
I started by reducing my trading method down to measurable parts, this allowed me to analyze the parts that didn't work.
This didn't happen overnight. It took 5 long years of sleepless nights, frustration and countless combinations of indicators and systems.
Forex trading examples
Forex trading examples
Example 1
An investor has a margin deposit with Saxo Bank of USD 100,000.
The investor expects the US dollar to rise against the Swiss franc and therefore decides to buy USD 2,000,000 - 2% of his maximum possible exposure at a 1% margin Forex gearing.
The Saxo Bank dealer quotes him 1.5515-20. The investor buys USD at 1.5520.
Day 1: Buy USD 2,000,000 vs. CHF 1.5520 = Sell CHF 3,104,000.
Four days later, the dollar has actually risen to CHF 1.5745 and the investor decides to take his profit.
Upon his request, the Saxo Bank dealer quotes him 1.5745-50. The investor sells at 1.5745.
Day 5: Sell USD 2,000,000 vs. CHF 1.5745 = Buy CHF 3,149,000.
As the dollar side of the transaction involves a credit and a debit of USD 2,000,000, the investor's USD account will show no change. The CHF account will show a debit of CHF 3,104,000 and a credit of CHF 3,149,000. Due to the simplicity of the example and the short time horizon of the trade, we have disregarded the interest rate swap that would marginally alter the profit calculation.
This results in a profit of CHF 45,000 = approx. USD 28,600 = 28.6% profit on the deposit of USD 100,000.
Example 2:
The investor follows the cross rate between the EUR and the Japanese yen. He believes that this market is headed for a fall. As he is not quite confident of this trade, he uses less of the leverage available on his deposit. He chooses to ask the dealer for a quote in EUR 1,000,000. This requires a margin of EUR 1,000,000 x 5% = EUR 10,000 = approx. USD 52,500 (EUR /USD 1.05).
The dealer quotes 112.05-10. The investor sells EUR at 112.05.
Day 1: Sell EUR 1,000,000 vs. JPY 112.05 = Buy JPY 112,050,000.
He protects his position with a stop-loss order to buy back the EUR at 112.60. Two days later, this stop is triggered as the EUR o strengthens short term in spite of the investor's expectations.
Day 3: Buy EUR 1,000,000 vs. JPY 112.60 = Sell JPY 112,600,000.
The EUR side involves a credit and a debit of EUR 1,000,000. Therefore, the EUR account shows no change. The JPY account is credited JPY 112.05m and debited JPY 112.6m for a loss of JPY 0.55m. Due to the simplicity of the example and the short time horizon of the trade, we have disregarded the interest rate swap that would marginally alter the loss calculation.
This results in a loss of JPY 0.55m = approx. USD 5,300 (USD/JPY 105) = 5.3% loss on the original deposit of USD 100,000.
Example 3
The investor believes the Canadian dollar will strengthen against the US dollar. It is a long term view, so he takes a small position to allow for wider swings in the rate:
He asks Saxo Bank for a quote in USD 1,000,000 against the Canadian dollar. The dealer quotes 1.5390-95 and the investor sells USD at 1.5390. Selling USD is the equivalent of buying the Canadian dollar.
Day 1: Sell USD 1,000,000 vs. CAD 1.5390. He swaps the position out for two months receiving a forward rate of CAD 1.5357 = Buy CAD 1,535,700 for Day 61 due to the interest rate differential.
After a month, the desired move has occurred. The investor buys back the US dollars at 1.4880. He has to swap the position forward for a month to match the original sale. The forward rate is agreed at 1.4865.
Day 31: Buy USD 1,000,000 vs. CAD 1.4865 = Sell CAD 1,486,500 for Day 61.
Day 61: The two trades are settled and the trades go off the books. The profit secured on Day 31 can be used for margin purposes before Day 61.
The USD account receives a credit and debit of USD 1,000,000 and shows no change on the account. The CAD account is credited CAD 1,535,700 and debited CAD 1,486,500 for a profit of CAD 49,200 = approx. USD 33,100 = profit of 33.1% on the original deposit of USD 100,000.
About IBFX
About IBFX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX) is a leading provider of online forex trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade spot foreign currency online.
Unlike other retail FX brokers, IBFX has distinguished itself as an industry leader with its unique "no dealing desk" agency model, proprietary tools and services, and focus on customer care. This has led to longer term and more profitable relationships and has also manifested itself in the numerous awards and industry accolades that IBFX has compiled. The recognition includes Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
Interbank FX serves clients from more than 140 countries and supports trading volume in excess of US$70 billion per month. The company is regulated as a Forex Dealer Member by the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant.
IBFX3165 Millrock DriveSTE 200Salt Lake City, UT 84121-4732 Driving Directions (printer friendly) Toll Free: US and Canada: 866.468.3739Australia 1.800.884.912Indonesia 001.803.017.9112Malaysia 1.800.813.776New Zealand 0800.445647Singapore 800.101.2097United Kingdom 0.808.120.1966 International: +1.801.930.6800Fax: 212.884.0609
Hedge funds as speculators
Hedge funds as speculators
About 70% to 90% of the foreign exchange transactions are speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency. Hedge funds have gained a reputation for aggressive currency speculation since 1996. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor
GTL Trading DMCC
GTL Trading DMCC as Broker Clearing Member of DGCX is authorized to provide clearing service to other non clearing broker on DGCX. We can provide experience and technology with full understanding of the rules and regulation and operational obligations of DCCC (Dubai Commodities Clearing Corporation). Now your brokerage house as an non-clearing member can clear business through GTL with rang of added services by enabling them to focus more on expanding their clientele base, while letting GTL take care of clearing and settlement. This function includes ensuring that every trade has an appropriate counter-party, paying and collecting funds as a result of trading and with the arrangement delivery.
Jordan Forex Expo
Jordan Forex Expo
GTL participation recently at has proved its commitment as an investor friendly forex, CFDs, futures and option execution provider with its innovative and personalized product line and investor friendly, efficient client service. Speaking at the event Mr. Kim Gil Head of Dubai Operations said “It is always important for GTL management to frequently meet the investor community to understand the market needs and come up with best solution and product line which can fill the gap; this is the strength of GTL”.
Industry expert and expo attendees have regarded GTL as one step ahead with its collaborative services and robust technology to accommodate the requirements from small investor to larger corporate. With its financial and technology strength GTL is serving its clientele worldwide, in order to provide efficient customer service GTL has strategically located offices around the world with professional client service team to help clients meet their goals.
Traders who utilize GTL’s service experience the ultimate transparency, security and reliability to get the information needed to achieve results. The prime features of GTL Online trading systems, a fast order execution and tight spreads and liquidity. The customer has a wide range of services to choose among, including foreign exchange, precious metals trading, FX futures – commodities - energies (OTC), equity indexes and other services.
Mr. P.S. Joseph Chief strategic Office said “We are very much satisfied with this achievement as it just came in no time; we implemented algorithmic technology solution three week back which worked excellent and lead us to be in top ten broker clearing member list. This establishes our commitment and expansion plans across the world”
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