The money changers: a guided tour through global currency markets
Currency markets, worth almost $2 trillion per day in trade, link the world together. Yet few people know how they work and why they are prone to instability and bouts of panic. This book, neither a technical manual nor a get-rich-quick tract, takes the reader on a guided tour of the places, the machines, the circuitry and the people involved in moving the world's money. From the simple to the complex, currency traders, market analysts, money managers and payments systems architects show their workplaces and reveal their day-to-day experiences. The book will give the reader a graphic picture of the geographical and structural organization of global currency markets and the people who operate them. The tour through the volatile and rapidly evolving world of the money changers provides a basic orientation for deciphering complex causes of yet unforeseen financial events.
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INTRODUCTIONEncounter with a money changer
a glance at foreign exchange
3How do money changers arrange deals?
12 other sections not shown
account money amount April assets Bank of England bank's bankers billion Blass bond market British brokerage capital cent CHAPS-euro checks CHIPS Citibank Clearing House commercial banks companies Continuous Linked Settlement contracts corporate currency dealers currency markets currency trades current account customers deal deficit delivery dollar economic electronic euro Europe European Central Bank exchange rate explains Fedwire financial markets forecasts foreign currency foreign exchange market forward contract fund managers Genevieve German mark global Greenspan happen Herstatt interest rates investment banks investors Japan Japanese largest liquidity lira London look monetary union money changers months move netting participants Passacantando payments system Persaud portfolio purchasing power parity Roberts says sell September settle settlement risk settlement systems sterling survey swap Swiss francs TARGET there's Tokyo trading room transactions Treasury securities trillion turnover Wall Street Journal York