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Re: [Lingo] FX
- Date: Sat, 21 Jan 2012 20:26:40 -0800
- From: s smith <email@example.com>
- Subject: Re: [Lingo] FX
- References: <4F1B5EC5.firstname.lastname@example.org> <4F1B6466.email@example.com>
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On 01/21/2012 05:20 PM, CL wrote:Interesting... I hadn't heard of this before.
FX may not be the most highly popular way to lose money today, but it has grown considerably over the past decade with the deregulation of trading and the elimination of the need to buy a trading license in order to post trading. Also coincides with the rise of day trading. The character 銭 is used to denote any fractional part of a yen and is most common in commodities and currency trading where margins per unit can be razor thin but the difference is made up on the number of units purchased. It's use is usually accompanied by the notation that Japanese financial rounding is employed (up or down at 3 or 7 [never 5 in Japanese GAAP] depending on who is logging the loss or gain: log to buyer's account or seller's).
Ah -- now it starts to make sense. We're talking about currency speculation, then. Do they actually buy the money or buy options to buy the money or both? Seems to me one of the big banks (UBS?) lost a few billion dollars a few months back betting on the swiss frank.HTH
I received a note from someone looking for a perl programmer to work on a site allowed users to bet on stocks, as if the market itself wasn't a big enough gamble. To me these seem like really strange times...
Thank you very much. Seems the more I learn the less I know :)
- Re: [Lingo] FX
- From: Stephen J. Turnbull
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