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FINANCIAL MARKET COURSES

FX Spot Market – An Introduction

The foreign exchange market is a seamless 24-hour market that exercises an enormous influence over virtually every financial and economic trend. This course introduces the spot FX market and explains how currencies can be treated similar to commodities in terms of how they can be traded. There is a particular focus on the method by which they are quoted in the market and how a price can be ascertained for any currency pair.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Describe the basic characteristics of the spot foreign exchange market

    Explain how spot FX deals are quoted in the market

  • COURSE OUTLINE

    Topic 1: Spot Market Quotations

    Spot Rates

    Market Maker vs Price Taker

    Bid-Offer Spread

    Interpreting Spot Market Quotations

    Quotation Conventions

    o Base Currencies

    o Order of a Currency Pair

    o Decimal Places in a Currency Pair

    Topic 2: Cross Rates

    Cross Rates

    Calculating Cross Rates

    o Same Base Currency

    o Different Base Currency

    o Same Variable Currency

    Topic 3: Value/Settlement Dates

    Standard Settlement Days

    Impact of Weekends/Holidays

    Exceptions to T+2 Settlement

    Value Date Rollover

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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