... for another.
The lack of a physical exchange enables the FOREX market to operate on a 24-
hour basis, spanning from one time zone to another across the major financial
centers. This fact—that there ... 16
The End of Bretton Woods and the Advent of
Floating Exchange Rates 17
International Monetary Market 17
Into the Millennium 18
Arrival of the Euro 18
The CFTC and...
... relative to another currency. There are
an enormous number of correlations between all these factors and they are
almost certainly nonlinear in nature. That means they are constantly changing
and ... United States, they may wish to buy some quantity of the USD and sell an
equal quantity of the GBP to hedge their margins from a fall in the GBP.
The speculator trades to make...
... charter
renewed but a separate quasi-private self-regulatory agency was created to
implement the laws, rules, and regulations. Thus in 1 982 was born the
National Futures Association (NFA). The NFA is the CFTC’s ... cer-
tain capital and risk parameters. Brokers today are able to closely
watch customer accounts to prevent them from getting to the point of
requiring a mar...
... reduces to:
Units Available ϭ 100 ϫ Margin Available/Margin Percent
Cross rates can be handled in the same fashion by simply manipulating
the conversion rate. Note: Always decrease the units available ... broker always subtracts the transaction cost at the
moment the trade is initiated; therefore, transaction costs do not affect the
above calculations.
Calculating Units Availa...