DOCSLIB.ORG

Metatrader 5’S Introduction, Brokers Still by Damian Chmiel Prefer Metatrader 4

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Metatrader 5’S Introduction, Brokers Still by Damian Chmiel Prefer Metatrader 4 Is MetaQuotes Its Own Worst Enemy? Nine Years after MetaTrader 5’s Introduction, Brokers Still By Damian Chmiel Prefer MetaTrader 4 Trading platforms designed by MetaQuotes Due to the unwavering popularity of Meta- which still looks more appealing to traders. On are definitely the most recognized and well- Trader 4, the supplier of the most popular top of that, big brokers that were so far avoiding known within the retail trading industry. If investment software on the market has been MT4 and promoting their own software finally we asked the average trader which platforms struggling with trying to increase the usage had to surrender and introduce their com- they use for trading, most of them would rates of MetaTrader 5 for years. As it turns out, petitor’s software to their clients. This unusual B2Broker of confirm at least occasional contact with one some brokers who already upgraded to MT5, turnaround led Finance Magnates to seek for CEO – of the MetaTrader versions. have decided to return to the “good ol’” solution, the answers to this surprising phenomenon. Azizov 52 Arthur MetaQuotes, originally from Russia and Main Differences between MetaTrader 4 and MetaTrader 5 today based in Cyprus, was established in 2000 with the launch of FX Charts, which Arthur Azizov, Fig. 23 CEO of B2Broker MetaTrader 4 MetaTrader 5 was renamed as MetaQuotes just a year later. Trading instruments FX and CFDs FX, CFDs, futures, and stocks The real breakthrough came however in the Timeframes 9 21 middle of the last decade when Metatrader Pending orders 4 types (buy stop, buy limit, sell limit, sell stop) 6 types (additionally buy stop-limit, sell-stop limit) 4 (MT4) was finally released. Since then, the Hedging Only hedging Hedging and netting platform has become the flagship symbol of MT4 still generates the largest trading Technical analysis tools 30 38 dynamically developing retail electronic trad- Market depth No Yes volumes. It is simpler to use than MT5 and ing, and almost 15 years later it is still a first Economic calendar No Yes 70% brokers still have MT4 trading platforms. Order execution types 3 4 choice solution for many investors around Graphical objects 31 44 the world. Despite its ‘old-fashioned’ design Strategy tester Single-threaded Multi-threaded and the emergence of a considerable number Fund transfer between accounts No Yes of alternative apps and proprietary broker- and constant interest of consumers. Programming language MQL4 MQL5 age platforms, MT4 still retains a dominant position. Source: MetaQuotes The refreshed version (MT5), which was to ] MetaTrader 5 – An Improvement for Brokers, not Necessarily for Traders? take over the lead after MetaTrader 4, offi- increasing the fees for the earlier version. Despite the developer’s actions, a large cially debuted in 2010. Although almost ten In January 2018, MetaQuotes made an offi- number of clients still prefer MT4, so brokers Metaquotes has long been preparing the years have passed since then and MetaQuotes cial announcement that it would no longer keep the platform on offer. However, accord- phase-out of MT4, and the final decision was has taken many steps to make this version sell the MetaTrader 4 trading platform. The ing to the industry participants’ opinions, dictated by technological constraints: “The the leading choice of brokers and traders, company elaborated that the system is out- for the investment firms themselves, version architecture was designed under the limita- the issue remains problematic. More inter- dated and cannot be developed further. It number 5 is definitely more advantageous. tions of a different time, due to which it is estingly, since the beginning of last year, MT4 should be noted that the decision came amid MT5 does not exist primarily to help the mil- no longer possible to implement new fea- is not officially being sold anymore, and yet an increasing push for MetaTrader 5 adop- lions of pop traders; it is first and foremost an tures that should meet nowadays increased brokers still offer it to their clients. Some of tion, which began in 2016. Before MetaQuotes improvement for brokers. What are the most requirements of the industry or the brokers them even decided - after removing the plat- decided to stop selling MT4 completely, it significant ones? For the purpose of this article B2Broker form from the offering in the first place - to and traders demands,” MetaQuotes explained of firstly offered preferential license purchase we will consider four different aspects: fewer in January 2018. CEO make it available again due to the tremendous rates to brokers for a newer platform, while – third-party plugins (meaning better control), Azizov 53 Arthur to technological constraints, has mutual ben- MetaTrader 4 and MetaTrader 5 in Google Trends MT4 efits. Firstly, liquidity providers might increase MT5 Greg Niebank, their revenues by offering liquidity services Fig. 24 Group Head of Product at at zero-cost and secondly, brokers using MT5 CMC 100 gain almost instant access to higher liquidity. 80 Higher markets range and new features – While MT4 limited asset offering to a few 60 There is a large community of long standing hundred symbols, MT5 has abolished these MetaTrader 4 users that we would not be restrictions. In addition to supporting Forex 40 able to attract unless we made MetaTrader 4 and CFDs, MT5 allows offering futures, stocks, available to them. bonds, and options trading, thus bringing in a 20 larger audience and additional clients. 0 Pricing - In its pricing system, MetaQuotes Feb 23, 14 Feb 22, 15 Feb 28, 16 Feb 26, 17 Feb 25, 18 gateway liquidity solution, more markets and never concealed that it offers more preferen- Source: Google Trends better features, and lastly an improved pric- tial rates for brokers choosing MetaQuotes 5 ing structure. (while MT4 was still being sold). In the begin- Control and fewer third-party add-ons – ning of 2018, a new entrant could expect to clients having problems with MT5”. Some of the brokers, especially bigger ones Brokers using MT4 would need MetaQuotes’ pay $100,000 for MT4, while MT5 started at who have big IT teams, will invest in their own Virtual Dealing Desk to handle order $75,000 for 1,000 users and ran up to $300,000 “MetaQuotes is the leader on the market own solutions to differentiate. However, routing or adapt third-party plugins to pro- for 200,000 trader accounts. and seems that this will not change soon. the platform itself is a kind of commodity to vide the feature that came built-in with the MT5’s supremacy over MT4 when it comes achieve business goals. I believe that the only newer MetaTrader. Add extensive API support to additional features were confirmed by platform that would allow clients to improve to the package, which allows brokers to build Piotr Baszak, Head of Trading Department their results can be a real game changer. Until their custom apps and website integration, at Dom Maklerski TMS Brokers: “From MQ MT4 Global Market Share in FX/CFD then there is no significant evidence that one and you receive a better-tailored solution for we know that the main idea behind building Retail Volumes * of the platforms has any superiority over the every investment company. MT5 platform was to make the architecture Fig. 25 others,” he added. Gateway liquidity solution – Thanks to the of the system more reliable and be prepared The examples mentioned above show that 5 STP Gateway, MT5 gets a massive advantage to support also other asset classes,” Baszak Q1 2018 Q2 2018 Q3 2018 Q4 2018 Total w/o Japan 50.5% 52.3% 55.1% 55% MT5 is definitely a better solution for most over MT4, allowing any MetaTrader 5 broker said. “MetaQuotes does not work on devel- Total with Japan 31.5% 33.9% 36.1% 37% retail brokers. Taking into account the back- to connect directly to any other MetaTrader opment on new features in MT4. MT5 now is the priority. When it comes to interfaces MT4 end infrastructure, it looks more developed B2Broker 5 broker for additional liquidity. This solution, Source: Finance Magnates Intelligence of than MT4 making things easier when it comes which was not possible in the case of MT4 due and MT5 are similar therefore we do not see *-includes MT5 volume CEO – Azizov 55 Arthur to brokerage business. What is good for the At the end of the day, it turns out that a broker, however, does not always go hand in product which, in theory, is better, newer, Top 10 Brokers by MT4 Usage in Q4 2018 hand with market demand. Clients’ interests more developed, and offers a number of ben- Piotr Baszak, Head of Trading Department show that they still prefer to use MT4 - at least efits to brokers (and indirectly to customers) Fig. 26 at TMS Brokers in terms of ‘traditional’ FX and CFD trading. loses the fight with its older and technologi- MT4 % Volume MT4 Volume ($B) cally constrained sibling. Share The monopoly that MT4 has established in IC Markets 94.0% 497.3 [ 50% around the World, 100% among Some Bro- recent years ironically works against Meta- Pepperstone 86.0% 210.4 kers – MT4 Will Not Die That Fast (If Ever) Quotes’ attempts to promote MT5. Directly, From MQ we know that the main idea behind Alpari 100.0% 139.4 traders are comfortable with MetaTrader 4, building MT5 platform was to make the Axi Trader 100.0% 130.9 and they do not need any change – the plat- According to data gathered by Finance architecture of the system more reliable FXOpen 100.0% 122.3 form is stable, working and available every- Magnates’ Intelligence Department, Meta- and be prepared to support also other asset Tickmill 100.0% 116.4 where.
Load more

Recommended publications
  • SELECTED FCM FINANCIAL DATA AS of December 31, 2008 FROM
    SELECTED FCM FINANCIAL DATA AS OF 1 of 5 December 31, 2008 FROM REPORTS FILED BY January 31, 2009 B/D? DSRO A/O Adjusted Net Capital Excess Customers' Customer Futures Commission Merchant Date Net Capital Requirement Net Capital Seg Required Amount 4d(a)(2) Pt. 30 Required (a) (b) (c) (d) (e) (f) 1 3D FOREX, LLC N NFA 12/31/2008 18,931,722 500,000 18,431,722 0 0 2 ACM USA LLC N NFA 12/31/2008 11,575,482 10,000,000 1,575,482 0 0 3 ADM INVESTOR SERVICES INC N CBOT 12/31/2008 154,941,097 74,632,265 80,308,832 1,864,327,056 72,071,646 4 ADVANCED MARKETS LLC N NFA 12/31/2008 10,071,373 10,000,000 71,373 0 0 5 ADVANTAGE FUTURES LLC N CME 12/31/2008 25,081,866 6,446,918 18,634,948 188,738,579 32,311,026 6 AIG CLEARING CORPORATION N NYME 12/31/2008 321,823,187 11,903,795 309,919,392 0 0 7 ALARON TRADING CORPORATION N NFA 12/31/2008 3,711,574 500,000 3,211,574 0 0 8 ALLIANZ GLOBAL INVESTORS DISTRIBUTORS LLC * Y NFA 12/31/2008 27,457,078 6,847,647 20,609,431 0 0 9 ALPARI (US) LLC N NFA 12/31/2008 17,497,095 10,000,000 7,497,095 0 0 10 AMERIPRISE ADVISOR SERVICES INC Y NFA 12/31/2008 22,077,618 5,346,567 16,731,051 0 0 11 BANC OF AMERICA SECURITIES LLC Y CME 12/31/2008 3,171,801,285 166,357,841 3,005,443,444 1,007,978,026 16,837,469 12 BARCLAYS CAPITAL INC Y NYME 12/31/2008 7,878,067,153 500,000,000 7,378,067,153 5,993,650,575 2,976,258,742 13 BGC SECURITIES Y NFA 12/31/2008 8,855,236 500,000 8,355,236 0 0 14 BNP PARIBAS COMMODITY FUTURES INC N NYME 12/31/2008 322,615,874 242,242,565 80,373,309 2,668,759,643 445,566,495 15 BNP PARIBAS SECURITIES
    [Show full text]
  • Page 01 Nov 25.Indd
    ISO 9001:2008 CERTIFIED NEWSPAPER Sunday 25 November 2012 11 Muharram 1434 - Volume 17 Number 5529 Price: QR2 Al Sada opens Cook and CNG fuelling Pietersen station defy India Business | 21 Sport | 32 www.thepeninsulaqatar.com [email protected] | [email protected] Editorial: 4455 7741 | Advertising: 4455 7837 / 4455 7780 Khalfan trains guns on Aljazeera Kenyan arrested over Dubai police chief accuses channel of ignoring protests in Egypt murder of US woman DOHA: Known for Brotherhood- DOHA: The law-enforcement Al Sharq briefly reported yes- bashing, outspoken Dubai Police agencies here have arrested terday that an ‘African national’ Chief, Dahi Khalfan, has now a Kenyan security guard sus- suspected of killing an ‘expatri- aimed his guns at Aljazeera pected of killing an American ate’ last week had been taken TV Channel and criticised it woman who was teaching at a into custody and that he had severely for what he claimed school in Al Wakra, US-based confessed to the crime. was the Channel turning a blind newspaper, The Morning Call, Jennifer, according to The eye to Friday’s protests against reported yesterday. Morning Call, had been teach- President Mohammed Mursi in The newspaper identified ing pre-school children in her Egypt. the victim as Jennifer Brown, Al Wakra school since last Khalfan said he had lost trust a 40-year-old woman from Jim September. in Aljazeera and called on fellow Thorpe, a borough in Carbon “She was a good kid, a beauti- GCC nationals to boycott the County, Pennsylvania, and said ful girl,” her father was quoted popular Arabic Channel.
    [Show full text]
  • Financial Technology Sector Summary
    Financial Technology Sector Summary February 11, 2016 Financial Technology Sector Summary Financial Technology Sector Summary Table of Contents I. GCA Savvian Overview II. Market Summary III. Payments / Banking IV. Securities / Capital Markets / Data & Analytics V. Healthcare / Insurance 2 Financial Technology Sector Summary I. GCA Savvian Overview 3 Financial Technology Sector Summary GCA Savvian Overview Independent Investment Bank Focused on Growth Sectors of the Global Economy » Leading provider of mergers and acquisitions, 7+ AREAS OF INDUSTRY EXPERTISE private capital agency and capital markets advisory services, and private funds services Financial Technology Business & Tech Enabled Services » Headquarters in San Francisco and offices in Media & Digital Media Industrial Technology New York, London, Tokyo, Osaka, Singapore, Telecommunications Healthcare Mumbai, and Shanghai » Majority of U.S. senior bankers previously with Goldman Sachs, Morgan Stanley, Robertson Stephens, and JPMorgan 100+ CROSS - BORDER TRANSACTIONS » Senior level attention and focus, extensive transaction experience and deep domain insight 20+ REPRESENTATIVE COUNTRIES » Focused on providing strategic advice for our clients’ long-term success 580+ CLOSED TRANSACTIONS » 225+ investment banking professionals $145BN+ OF TRANSACTION VALUE 4 Financial Technology Sector Summary GCA Savvian Overview Financial Technology Landscape » GCA Savvian divides Financial Technology Financial Technology into three broad categories − Payments & Banking − Securities & Capital Markets
    [Show full text]
  • Proshares Trust Ii Prospectus S
    Filed pursuant to Rule 424(b)(3) Registration No. 333-253088 PROSHARES TRUST II Common Units of Beneficial Interest Proposed Maximum Aggregate Offering Price Title of Securities to be Registered Benchmark Per Fund ProShares VIX Short-Term Futures ETF (VIXY) S&P 500® VIX Short-Term Futures Index $ 1,128,860,082 ProShares Ultra VIX Short-Term Futures ETF (UVXY) S&P 500® VIX Short-Term Futures Index $ 6,066,240,184 ProShares Short VIX Short-Term Futures ETF (SVXY) S&P 500® VIX Short-Term Futures Index $ 1,418,967,805 ProShares Trust II (the “Trust”) is a Delaware statutory trust organized into separate series. The Trust may from time to time offer to sell common units of beneficial interest (“Shares”) of any or all of the series of the Trust listed above (each, a “Fund” and collectively, the “Funds”) or other series of the Trust. Shares represent units of fractional undivided beneficial interest in and ownership of a series of the Trust. Each Fund’s Shares are offered on a continuous basis. The Shares of each Fund are listed for trading on Cboe BZX Exchange, Inc. (the “Exchange”) under the ticker symbol shown above next to each Fund’s name. Please note that the Trust has series other than the Funds. The ProShares VIX Short-Term Futures ETF (the “Matching Fund”) seeks investment results, before fees and expenses, that match the performance of the S&P 500 ® VIX Short-Term Futures Index (the “Index”). The ProShares Short VIX Short-Term Futures ETF (the “Short Fund”) seeks daily investment results, before fees and expenses, that correspond to one-half the inverse (-0.5x) of the performance of the Index for a single day, not for any other period.
    [Show full text]
  • A Non-Linear Analysis of Operational Risk and Operational Risk Management in Banking Industry
    University of Wollongong Research Online University of Wollongong Thesis Collection 2017+ University of Wollongong Thesis Collections 2017 A non-linear analysis of operational risk and operational risk management in banking industry Yifei Li University of Wollongong Follow this and additional works at: https://ro.uow.edu.au/theses1 University of Wollongong Copyright Warning You may print or download ONE copy of this document for the purpose of your own research or study. The University does not authorise you to copy, communicate or otherwise make available electronically to any other person any copyright material contained on this site. You are reminded of the following: This work is copyright. Apart from any use permitted under the Copyright Act 1968, no part of this work may be reproduced by any process, nor may any other exclusive right be exercised, without the permission of the author. Copyright owners are entitled to take legal action against persons who infringe their copyright. A reproduction of material that is protected by copyright may be a copyright infringement. A court may impose penalties and award damages in relation to offences and infringements relating to copyright material. Higher penalties may apply, and higher damages may be awarded, for offences and infringements involving the conversion of material into digital or electronic form. Unless otherwise indicated, the views expressed in this thesis are those of the author and do not necessarily represent the views of the University of Wollongong. Recommended Citation Li, Yifei, A non-linear analysis of operational risk and operational risk management in banking industry, Doctor of Philosophy thesis, School of Accounting, Economics and Finance, University of Wollongong, 2017.
    [Show full text]
  • Banking Litigation Law Review Banking Litigation Law Review
    the Banking Litigation Law Review Law Litigation Banking Banking Litigation Law Review Fourth Edition Editor Deborah Finkler Fourth Edition Fourth lawreviews © 2020 Law Business Research Ltd Banking Litigation Law Review Fourth Edition Reproduced with permission from Law Business Research Ltd This article was first published in December 2020 For further information please contact [email protected] Editor Deborah Finkler lawreviews © 2020 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGER Joel Woods SENIOR ACCOUNT MANAGERS Pere Aspinall, Jack Bagnall ACCOUNT MANAGERS Olivia Budd, Katie Hodgetts, Reece Whelan PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCH LEAD Kieran Hansen EDITORIAL COORDINATOR Tommy Lawson PRODUCTION AND OPERATIONS DIRECTOR Adam Myers PRODUCTION EDITOR Felicia Rosas SUBEDITOR Martin Roach CHIEF EXECUTIVE OFFICER Nick Brailey Published in the United Kingdom by Law Business Research Ltd, London Meridian House, 34–35 Farringdon Street, London, EC4A 4HL, UK © 2020 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors’ firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided. The publishers accept no responsibility for any acts or omissions contained herein. Although
    [Show full text]
  • Public Warnings - Securities Dealers
    Public Warnings - Securities Dealers The Data as of September 7, 2018 Country No. forwarding Name Address warnings Reason Detailed information 1911DIRECT Sparkasse Ekonomisk Box 882, 114 79 Stockholm, Sverige, Klarabergsviadukten Sweden unauthorized subject www.fi.se/warning Forening 70/Kungsbron, 107 24 Stockoholm, Sverige, Finduras 1 Group/European Bransch, Carrer de Porto Pi 8/8, 070 15 Palma de Mallorca, Baleares/Espana 1st American Securities 632 Broadway, Suite 3002, Neww York NY 10012, USA Sweden unauthorized subject www.fi.se 7/D Tung Wai Commercial Building, 109-111 Glocester 2 Road, Wan Chai, Hong Kong www. 1stamericansecurities.com www.kerstdis.nl 2013 BEST INVEST 59 Thomas Street, Manchester M4 1NA, United Kingdom United unauthorized subject www.fsa.gov.uk 3 www.2013bestinvest.com Kingdom 4 247 Holdings Group Great Britain Italy unauthorized subject 5 4usignals.com http://4usignals.com Cyprus unauthorized subjec www.cysec.gov.cy 4XCELLENT Ltd with headquarters in Cyprus, Great Britain and Israel, Italy unauthorized subject http://www.consob.it/mainen/ 6 www.4xcellent.com. index.html 7 629 Plan France unauthorized subject Phone +33(0)1 5345 6031 8 7M MANAGEMENT SERVICES Ltd. Greece unauthorized subject tel.no. +30 210 33 77 100 A WALKER ASSOCIATES / ANDREW www.awalkerassociates.com United unauthorized subject www.fsa.gov.uk 9 WALKER ASSOCIATES / AW Kingdom ASSOCIATES A WARNER ASSOCIATES / ANDREW www.awarnerassociates.com United unauthorized subject www.fsa.gov.uk 10 WARNER ASSOCIATES / AW Kingdom ASSOCIATES 11 A.S. Konstantinidis Greece unauthorized subject www.hcmc.gr 12 AB Hutton Global Holdings www.abhglobal.com Cyprus unauthorized subject www.cysec.gov.cy Abacus Financial Management www.abacusfinancialmgmt.com United unauthorized subject www.fsa.gov.uk 13 Telephone: 0207 193 9451 Kingdom Clone of previously FSA authorised firm Public Warnings - Securities Dealers The Data as of September 7, 2018 Country No.
    [Show full text]
  • Banking Litigation Law Review Banking Litigation Law Review
    the Banking Litigation Law Review Law Litigation Banking Banking Litigation Law Review Third Edition Editor Deborah Finkler Third Edition Third lawreviews © 2019 Law Business Research Ltd Banking Litigation Law Review Third Edition Reproduced with permission from Law Business Research Ltd This article was first published in December 2019 For further information please contact [email protected] Editor Deborah Finkler lawreviews © 2019 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGER Joel Woods SENIOR ACCOUNT MANAGERS Pere Aspinall, Jack Bagnall ACCOUNT MANAGERS Olivia Budd, Katie Hodgetts, Reece Whelan PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCH LEAD Kieran Hansen EDITORIAL COORDINATOR Gavin Jordan HEAD OF PRODUCTION Adam Myers PRODUCTION EDITOR Hilary Scott SUBEDITOR Caroline Herbert CHIEF EXECUTIVE OFFICER Nick Brailey Published in the United Kingdom by Law Business Research Ltd, London Meridian House, 34-35 Farringdon Street, London, EC4A 4HL, UK © 2019 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors’ firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided. The publishers accept no responsibility for any acts or omissions contained herein. Although the information
    [Show full text]
  • Testing for Arbitrage Opportunities Within the Foreign Exchange Market
    TESTING FOR ARBITRAGE OPPORTUNITIES WITHIN THE FOREIGN EXCHANGE MARKET TESTIG FOR ARBITRAGE OPPORTUITIES WITHI THE FOREIG EXCHAGE MARKET Imran Hussain An Independent Study Presented to The Graduate School of Bangkok University In Partial Fulfillment Of the Requirement for the Degree Master of Business Administration 2009 © 2009 Imran Hussain All Right Reserved Hussain, Imran. Master of Business Administration, June 2009, Graduate School, Bangkok University Testing For Arbitrage Opportunities within the Foreign Exchange Market (51 pp.) Advisor of Independent Study: Andrew R. Criswell, Ph.D. ABSTRACT This study aims to determine whether or not arbitrage opportunities exist within the retail foreign exchange market and how the number of opportunities compares to those found within the interbank foreign exchange market. The concept of triangular arbitrage is used within this study to identify potential arbitrage opportunities. This study makes use of minute frequency data obtained from a retail foreign exchange broker involving the US dollar, Euro and Japanese Yen. This study covers a one week period from 4th to the 10th of April 2009, over which arbitrage opportunities are tested for using the triangular arbitrage trade strategy. This study also tested to see if triangular parity is a good predictor of future currency movement. This study finds that some arbitrage opportunities do exist within the retail foreign exchange market, however the returns of these opportunities suggests that the retail foreign exchange market falls in line with the efficient market hypothesis. This study finds that arbitrage opportunities in the form of triangular arbitrage are more common within the interbank market than the retail market. This study also finds that triangular parity is not a good predictor of currency movement.
    [Show full text]
  • Project Finance in Practice: Case Studies
    Project Finance in Practice Case Studies i Project Finance in Practice Case Studies Carmel de Nahlik and Chris Jackson E U R B O O M O O K N S E Y Published by Euromoney Institutional Investor PLC Nestor House, Playhouse Yard London EC4V 5EX United Kingdom Tel: +44 (0)20 7779 8999 or USA 11 800 437 9997 Fax: +44 (0)20 7779 8300 www.euromoneybooks.com E-mail: [email protected] Copyright © 2014 Euromoney Institutional Investor PLC ISBN 978 1 78137 263 0 This publication is not included in the CLA Licence and must not be copied without the permission of the publisher. All rights reserved. No part of this publication may be reproduced or used in any form (graphic, electronic or mechanical, including photocopying, recording, taping or information storage and retrieval systems) without permission by the publisher. This publication is designed to provide accurate and authoritative information with regard to the subject matter covered. In the preparation of this book, every effort has been made to offer the most current, correct and clearly expressed information possible. The materials presented in this publication are for informational purposes only. They reflect the subjective views of authors and contributors and do not necessarily represent current or past practices or beliefs of any organisation. In this publication, none of the contributors, their past or present employers, the editor or the publisher is engaged in rendering accounting, business, financial, investment, legal, tax or other professional advice or services whatsoever and is not liable for any losses, financial or otherwise, associated with adopting any ideas, approaches or frameworks contained in this book.
    [Show full text]
  • Derivative (Finance)
    Derivative (finance) In finance, a derivative is a contract that derives its value mented as inverse. Hence, specifically the market price from the performance of an underlying entity. This un- risk of the underlying asset can be controlled in almost derlying entity can be an asset, index, or interest rate, every situation.[6] [1][2] and is often simply called the "underlying". Deriva- There are two groups of derivative contracts: the pri- tives can be used for a number of purposes, including vately traded over-the-counter (OTC) derivatives such as insuring against price movements (hedging), increasing swaps that do not go through an exchange or other inter- exposure to price movements for speculation or getting [3] mediary, and exchange-traded derivatives (ETD) that are access to otherwise hard-to-trade assets or markets. traded through specialized derivatives exchanges or other Some of the more common derivatives include forwards, exchanges. futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default Derivatives are more common in the modern era, but their swaps. Most derivatives are traded over-the-counter (off- origins trace back several centuries. One of the oldest exchange) or on an exchange such as the Bombay Stock derivatives is rice futures, which have been traded on the Exchange, while most insurance contracts have devel- Dojima Rice Exchange since the eighteenth century.[7] oped into a separate industry. Derivatives are one of the Derivatives are broadly categorized by the relationship three main categories of financial instruments, the other between the underlying asset and the derivative (such two being stocks (i.e., equities or shares) and debt (i.e., as forward, option, swap); the type of underlying as- bonds and mortgages).
    [Show full text]
  • 1167 Capital Llp 1875 Finance (Luxembourg) Sa 1Oak Capital Limited 2 Pm Europe S.A
    Entidades Autorizadas por la CNMV Fuente: estafastrading.com para prestar servicios de inversión cnmv.es 1167 CAPITAL LLP 1875 FINANCE (LUXEMBOURG) SA 1OAK CAPITAL LIMITED 2 PM EUROPE S.A. 20TWENTY INDEPENDENT LIMITED 2H WEALTHCARE LLP 2R CAPITAL LIMITED 36 SOUTH CAPITAL ADVISORS LLP 360 F-INSIGHT LIMITED 360 TREASURY SYSTEMS AG 3D GLOBAL FINANCIAL SERVICES LTD 3I EUROPE PLC 3I INVESTMENTS PLC 4 SHIRES ASSET MANAGEMENT LTD 4 THE RECORD COMPLIANCE LTD 415 LLP 42 FINANCIAL SERVICES A.S. 4BIO VENTURES MANAGEMENT LTD 7DAYSAHEAD 7Q FINANCIAL SERVICES LTD 9STREET CAPITAL MARKETS B.V. A J WEALTH MANAGEMENT LTD A ALLEN INVESTMENT SERVICES LIMITED A CAT-COIN FINANCES E INVERSIONS, S.L. A D M INVESTOR SERVICES INTERNATIONAL LIMITED A G EDWARDS SONS (UK) LIMITED A J ASSET MANAGEMENT LIMITED A K JENSEN LIMITED AM FINANCIAL SERVICES LTD A.A.M. WEALTH LTD A.J.K. WEALTH MANAGEMENT LIMITED A.N. ALLNEW INVESTMENTS LTD A.T.I. ASSOCIATES (CYPRUS) LTD A/S GLOBAL RISK MANAGEMENT LTD. FONDSMAEGLERSELSKAB AA ADVISERS LLP AA ADVISORS EUROPE LIMITED AAA TRADE LTD AARON TOWNY MORTGAGES LIMITED AB SVENSK EXPORTKREDIT ABACCO NEW CYCLE SL ABACO ASSET MANAGEMENT LLP ABACUS INVESTMENT SOLUTIONS LTD ABACUS WEALTH MANAGEMENT LIMITED ABANS GLOBAL LIMITED ABANTOS GESTIONA SL ABBEY CAPITAL LIMITED ABBEY NATIONAL TREASURY SERVICES PLC ABBEY STOCKBROKERS LIMITED ABBOTT CAPITAL (EUROPE) LIMITED ABC ASESORES PATRIMONIALES 2020 https://www.estafastrading.comS.L. Entidades Autorizadas por la CNMV Fuente: estafastrading.com para prestar servicios de inversión cnmv.es ABERDEEN
    [Show full text]