For the sub-period before 2008, all the currencies exhibit significant turn-of-month effects and the returns in the turn-of-month trading days are significantly lower than those in the non-turn-of-month trading days. However, post-2008; this effect vanishes for all the currencies except for...
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Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world’s first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties...
But interest in them soon began to fade, driven in part by a combination of inherent difficulty in predicting crises, particularly the timing of financial crises. This interest was renewed after the global financial crisis. Broadly speaking, there are three main ingredients in an early warning ...
7. Trading in Local Currencies, Not Dollars How It Works: Countries skip the dollar middleman and trade directly in their own currencies. Pros: Boosts economic independence. Reduces vulnerability to US monetary policy shifts. Cons: Many currencies are too unstable for global trade. US has massiv...
"The main difference that people will feel is that it will be much easier to move funds between WeChat and Alipay and all the insurance, lending, trading, and investment apps that exist. It breaks the economies of scale of a payment app."...
Operational computation of expected FX reserves returns, the timing convention and the extent to which variables are observable. (i) In the period of initialization, period t, for e.g. January 2019, the central bank computes a sequence of ex-post one period ahead (monthly) expected returns fo...
with the other 38% in mostly euros and pound sterling. The yen accounts for 4%, and the Chinese yuan virtually zero. But China is now the world’s biggest trading power, with Brazil and India not that far behind. So why does the dollar still get to dominate world trade, with all the...
Local Exchange Trading Systems Metcalfe’s Law TEM Official site New Money Meets the Cost of Change: How Local Currencies Save Economies and Communities, and Help them Flourish Greek Citizens Create New Currency To Tackle Eurozone Crisis (2012) ...