Alain Delelis Bank of America
Alain Delelis Bank of America

Online trading in Emerging market currencies

Viewpoint

First Published: e-Forex Magazine 16 / Viewpoint / October, 2004

In this VIEWPOINT, Alain Delelis, global head of spot and emerging market trading and head of European Foreign Exchange at Bank of America, takes a holistic view of the factors that influence market maturity and looks at the potential for online trading in emerging market currencies.The importance of assessing maturity Maturity is defined as the overall readiness of a business to enter the next logical phase in its cycle. In foreign exchange, maturity is measured by assessing factors such as business and product cycles, democratization of markets, currency regulations and regime, risk management, market liquidity and technology. Within each of these factors are various stages or ’levels of readiness’, where level 1 suggests a perfect market condition for online trading, and level 4 suggests prematurity. It is imperative to consider each of these factors carefully before making any business decisions. Moreover, it is critical to consider ALL factors holistically. The following is a...continued

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