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Foreign Exchange

What an excellent week that was!

It was off to the eighth annual Euromoney Forex Forum on Tuesday. This year it was held at The Brewery in the City of London. Regular readers will know that I’m a big believer in anecdotal evidence, and from what I saw at the Forum, it’s clear that the FX market is in extremely good shape.

There was a real buzz in the air – the Forum proved its worth as a venue for people to come and meet.

Another positive indicator was provided by the standard of freebies the exhibitors were dishing out. It always makes me laugh to see well-paid professionals scrambling to get their hands on what often is a load of worthless tat, but this year most of the goodies were good and were given away in a spirit of fun and generosity. Virtually every bank was handing out memory sticks, which used to cost a fair few pennies but now are as cheap as (computer) chips.

I particularly liked the wind-up torch that the CME was handing out. Talking of wind ups, I tried to get my old mucker Andy Durrant, the exchange’s head of EMEA sales, in a spin by asking him if CME’s Globex platform was run on the same technology as the torch. But there wasn’t a flicker of interest from him. My children liked the mousetrap given away by State Street most. Standard Chartered wasn’t hindered by a rather dull stand, it had had the foresight to stock the fridge with ‘emerging market’ beer – an excellent way to ensure a crowd.

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