Retail foreign exchange brokers

There are two types of retail brokers offering the opportunity for speculative trading: retail foreign exchange brokers and market makers. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks. Retail brokers, while largely controlled and regulated by the CFTC and NFA might be subject to foreign exchange scams.^[7][8] At present, the NFA and CFTC are imposing stricter requirements, particularly in relation to the amount of Net Capitalization required of its members. As a result many of the smaller, and perhaps questionable brokers are now gone. It is not widely understood that retail brokers and market makers typically trade against their clients and frequently take the other side of their trades. This can often create a potential conflict of interest and give rise to some of the unpleasant experiences some traders have had. A move toward NDD (No Dealing Desk) and STP (Straight Through Processing) has helped to resolve some of these concerns and restore trader confidence, but caution is still advised in ensuring that all is as it is presented.

Foreign exchange market

The foreign exchange market (currency, forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.

Now, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.

The purpose of FX market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, etc., and the need for trading in such currencies.

What's Forex?

"Forex" stands for foreign exchange; it's also known as FX. In a forex trade, you buy one currency while simultaneously selling another - that is, you're exchanging the sold currency for the one you're buying. The foreign exchange market is an over-the-counter market.

Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there's no centralized exchange for forex. All transactions happen via phone or electronic network.

Who trades currencies, and why?

Daily turnover in the world's currencies comes from two sources:

• Foreign trade (5%). Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency.

• Speculation for profit (95%).

Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.

The world's most traded market, trading 24 hours a day

With average daily turnover of US$3.2 trillion, forex is the most traded market in the world.
A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET, forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York.

Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night.

Trading characteristics

Most traded currencies
Currency distribution of reported FX market turnover

Rank	Currency	ISO 4217 code (Symbol)	% daily share (April 2007)
1	United States dollar	USD ($)	86.3%
2	Euro	EUR (€)	37.0%
3	Japanese yen	JPY (¥)	16.5%
4	Pound sterling	GBP (£)	15.0%
5	Swiss franc	CHF (Fr)	6.8%
6	Australian dollar	AUD ($)	6.7%
7	Canadian dollar	CAD ($)	4.2%
8-9	Swedish krona	SEK (kr)	2.8%
8-9	Hong Kong dollar	HKD ($)	2.8%
10	Norwegian krone	NOK (kr)	2.2%
11	New Zealand dollar	NZD ($)	1.9%
12	Mexican peso	MXN ($)	1.3%
13	Singapore dollar	SGD ($)	1.2%
14	South Korean won	KRW (₩)	1.1%
Other			14.5%
Total			200%

There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currencies instruments are traded. This implies that there is not a single exchange rate but rather a number of different rates (prices), depending on what bank or market maker is trading, and where it is. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. Due to London's dominance in the market, a particular currency's quoted price is usually the London market price. A joint venture of the Chicago Mercantile Exchange and Reuters, called Fxmarketspace opened in 2007 and aspired but failed to the role of a central market clearing mechanism.

The main trading center is London, but New York, Tokyo, Hong Kong and Singapore are all important centers as well. Banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session, excluding weekends.

Fluctuations in exchange rates are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in gross domestic product (GDP) growth, inflation (purchasing power parity theory), interest rates (interest rate parity, Domestic Fisher effect, International Fisher effect), budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.

Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX is expressed (called base currency). For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.5465 dollar. Out of convention, the first currency in the pair, the base currency, was the stronger currency at the creation of the pair. The second currency, counter currency, was the weaker currency at the creation of the pair.

The factors affecting XXX will affect both XXX/YYY and XXX/ZZZ. This causes positive currency correlation between XXX/YYY and XXX/ZZZ.

On the spot market, according to the BIS study, the most heavily traded products were:

• EUR/USD: 27%
• USD/JPY: 13%
• GBP/USD (also called sterling or cable): 12%

and the US currency was involved in 86.3% of transactions, followed by the euro (37.0%), the yen (16.5%), and sterling (15.0%) (see table). Note that volume percentages should add up to 200%: 100% for all the sellers and 100% for all the buyers.

Trading in the euro has grown considerably since the currency's creation in January 1999, and how long the foreign exchange market will remain dollar-centered is open to debate. Until recently, trading the euro versus a non-European currency ZZZ would have usually involved two trades: EUR/USD and USD/ZZZ. The exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market. As the dollar's value has eroded during 2008, interest in using the euro as reference currency for prices in commodities (such as oil), as well as a larger component of foreign reserves by banks, has increased dramatically. Transactions in the currencies of commodity-producing countries, such as AUD, NZD, CAD, have also increased.

Understanding Forex Trading

The stock markets are complicated, but you can educate yourself. If you are interested in getting involved with the stock markets then one of the first things that you will want to learn about is Forex trading.

The forex market is basically the foreign stock exchange. This is where parties purchase stocks in one currency by exchanging payment in a separate currency.

Forex trading is done on one of the biggest financial markets in existence. Forex trading is done between corporations, large banks, and even different governments.

Forex trading is particularly challenging because it trades in such large volumes, and it is trading things from a wide geographical area. One of the greatest things about forex trading is that you can trade 24 hours a day during the business week.


Trading on any stock exchange can be a risk, and forex trading is just as risky. Though there are not typically as many losses as some of the ones found on the smaller markets they do still exist within forex trading.

Additionally, given the larger volumes that are currently traded within forex trading there is the potential for investors and traders to pull down larger margins of profits from their trades.

Forex Tester - Professional Forex Training Software for Traders

Forex Tester is a professional software simulator of the Foreign Exchange Market. It allows you to gain and improve trading skills without risking your money. You do not need to train in real time, waiting for days and weeks to test your trading ideas and strategies, Forex Tester will pack this time in hours and minutes.
This is an excellent forex training tool that will help you to:
Study trading on the FOREX market in a fast and convenient way.
Develop and test your own trading strategies without being a programmer.
Test your trading strategies on years of historical data.
Save your money and time.
The program has extended drawing tools that allow you to test trading strategies based on technical analysis. It provides some of the most popular technical studies such as: Fibonacci Retracement, Fibonacci Fan, Fibonacci Arcs, Andrews' Pitchfork and others.
Also, we added some of the most popular indicators and oscillators to Forex Tester and continue to increase their number.
For the advanced users and programmers we designed open interfaces with detalied documentation to help you create your own indicators and strategies. Thus, if you have your own ideas, you can implement them using Forex Tester API and significantly expand the program functionality.

Forex Trading Software

The development of forex trading software is what makes it possible for foreign exchange traders to make trades from their own computers. The majority of these software options are included for download when you open an account with a particular trading company and this article will guide you throug
Continued advancements in forex trading software are responsible for the continued growth of the foreign exchange trade industry. Forex trading software is readily available and is more user friendly than ever before. If you have ever been discouraged from trying your hand at online investing because the software was too complicated, now is the time to try it again. The software offered on most of the large forex trading platforms comes with full 24 hour customer support. Forex traders demanded better trading systems, and the service providers have responded. Quick fact : The Forex market is by far the largest financial market in the world, and includes trading between large banks,central banks, currency speculators,multinational corporations, governments, and other financial markets and institutions. One site that offers their own version of forex trading software when you open an account with them is forex. com. This custom designed software is widely used and has a high rate of customer satisfaction. The site’s customer service center is open 24 hours a day Monday through Friday (basically when the worldwide forex markets are open) so that you can address any issues that you may have immediately. Experienced forex traders know just how costly down time can be, so it’s important to have someone to turn to immediately should any problems occur. Did you know that the average daily trade in the global forex markets currently exceeds US$ 2-2.5 trillion ! Another great website that offers free downloadable forex trading software when you open an account is gftforex. com. The software they make available to their clients is called Dealbook360. This state of the art trading software is simple enough to allow even beginning forex traders to feel comfortable but powerful and comprehensive enough to keep even the most demanding foreign exchange traders happy and satisfied . In addition, Dealbook 360 monitors some of the tightest bid/buy spreads available, thus increasing your profit margins. A third reference that you may find useful is fxstreet. com. This page lists all of the major trading companies and the financial institutions that they run out of. This site also lists what kind of software each trading company is currently utilizing. Aside from listing the forex trading software that a particular company is using, this site also provides useful current information about pip spreads and a few other details about each site. Do you want to know if a particular company offers live technical support? You can find the answer quickly on fxstreet.com. You will find that most forex trading software is similar in design and function. The features that separate good from bad are the support features that each forex trading company offers with its trading software. Before you choose a foreign exchange trading company to use, make sure that you do plenty of research on all of the companies that you are interested in. Take advantage of the investment simulators that each offers on its site and get a feel for how the forex trading software works in real time. Read consumer reviews to see other forex trader’s opinions and experiences with a given company. Check to make sure that their customer service record is reliable and prompt.

Forex is the largest and most happening financial market of the world

Forex is the largest and most happening financial market of the world. It is the venue where one currency is traded for the other. The market place is distinguished from the rest because of its high trading volume and geographical dispersion. A trader with sound knowledge of currency trading can earn substantial profit in forex market. Along with the knowledge of trading, he should have access to a few tools of forex trading. These tools are made to strengthen the confidence of a trader and can prove out to be a great help for a winning currency trading in forex. Being an awakened trader of forex market, you should remain aware about every latest happening of currency trading. Therefore, it’s important for you to have access to daily forex trading summary for important currencies and currency pairs. Add to this, a weekly forex trading summary is also beneficial as it will encompass detailed analysis of your sought subject. Tools that help you to access and monitor the interest rates, financial calendar, glossary database are also worthwhile. Apart from the above, there are several other tools of currency trading available around you. Several software containing detailed analysis and information about currency trading are also available at your disposal. All these tools and software packs are important for a successful forex trading. With access to such tools, a trader can easily execute his trading. Now, how to get these tools easily and satisfactorily? Well, it’s easy. With the availability of internet, you need not to get out of your home to access these tools and software packs. Just a single click and you can access valuable information and tools regarding currency trading in forex. Several online forex firms have been established only to offer you tools and software packs for forex trading. Some of them may charge money from you to download or access the software packs and tools. If you are not at all interested to cut your pocket, go for those forex firms, who offer free download facility. Online forex firms are beneficial in many ways. They not only offer you currency trading tools and software but also keen to give you an insight into the latest incidents of forex market. They also publish economic reports and influential topics on their websites with an aim to update a trader about what matter in currency trading. You can also access live charts of the forex market and trading secrets from such online firms. These forex firms are usually run by experienced professional, who own years of experience in currency trading. So, you can trust them. Thus trading in forex market has become easy with the availability of tools and software packs. And the advent of internet has made it easier. Today any one from any corner of the world can access forex trading tools for simplifying his currency trading.

Karachi Stock Exchange

Karachi Stock Exchange in short KSE is the oldest and largest stock exchange of Pakistan; it is on number one regarding its index points. It was built in 1947; it has many local and international listings. It is located in Karachi, which is the largest city of Pakistan, and also it is considered as the economical and business backbone of Pakistan.
Trading hours of KSE in normal weekdays are from 9:45 am to 2:15 pm, while on Friday its trading timings are from 9:30 to 12:00 and then it is closed for prayers next session open at 2:30 pm to 4:00 pm. In 2002, "Business week" declared that KSE as " Best Performing Stock Market Of The World". In December 2007, KSE index had reached to the highest value and closed at highest point that are 14,814.85. 671 companies are listed in the KSE with the market capitailization of US $ 73 Billion.
KSE Board of directors had announced construction of new 40-story building of KSE.


References and Links
The Karachi Stock Exchange
www.kse.net.pk/ -

Tesco cuts datacenter costs with Citrix XenServer, HP BladeSystem Servers

Tesco PLC, a Britain supermarket chain, announced Thursday updates to its mission-critical Real Time Sales (RTS) systems, virtualizing key business applications with Citrix XenServer running on HP ProLiant BL680c G5 blade servers.

With infrastructure from Citrix Systems Inc. and Hewlett-Packard (HP) in place, Tesco has increased its RTS capacity by 75 percent, handling 1,500 sales-related messages per second, thereby catering to the critical nature of the RTS systems and creating room for growth.

Tesco began investigating virtualization as an alternative to adding more physical servers to handle its growing capacity demands, as well as fulfilling its community commitment to reduce carbon emission levels. While adding physical servers would require an increase in power and cooling, virtualization has better equipped Tesco to hit its target of reducing carbon emissions from its UK datacenters by 20 percent.

“After conducting a major evaluation of virtualization providers, we went with Citrix based on the strength of the Xen technology, the ability XenServer has to provide high levels of performance for heavy duty 64-bit applications, its licensing model and its UK-based engineering team – decisions that have already paid off for us,” said Nick Folkes, IT director at Tesco.

“The virtualized RTS environment uses less than half of the energy of the physical bare metal equivalents, which supports our CO2 targets and means we have already saved a significant amount on our electricity bills. We’re running far more efficiently and the ongoing management of the environment is much simpler. While our primary goal in working with Citrix and HP was to create a more flexible IT infrastructure, the consolidation benefits are significant,” Folkes added.

After the success of the initial project to virtualize RTS, Tesco has continued to deploy XenServer for its major server consolidation project. Citrix is working with Tesco to virtualize 1,500 physical servers on XenServer, including 80 Citrix XenApp servers, which helps in bringing better efficiencies to the way applications are delivered to each Tesco store.

Tesco is aiming for a conservative 10:1 consolidation ratio for physical to virtual servers and is hitting 70 percent CPU (central processing unit) utilization on the servers, versus the previous six percent.

From an operational perspective, Tesco has been able to utilize the XenMotion live migration feature of XenServer to migrate virtual machines to other physical hardware, with zero downtime, allowing patches and updates without disrupting users. Subsequently, Tesco has been able to remove its clustering back-up technologies and replace them with virtual servers. And, since XenMotion does not tie the resilience to a particular platform, Tesco has reduced its back-up server to live server ratio from 1:2 to 1:6.

XenServer is running on 64-bit HP ProLiant BL680C G5 blade servers with HP StorageWorks XP24000 SANs for enterprise-wide storage. HP’s four-socket, four-core machines for blade servers were a differentiator for Tesco at the time of purchase. Resilience through the solution ensures there is no single point of failure, which is essential for a business-critical application like RTS. As Citrix licenses for advanced virtualization management capabilities are charged per server instead of per socket, Tesco is not penalized for using larger blade servers.

“RTS is a mission-critical system for Tesco with very high throughput of transactions based on Microsoft IIS, BizTalk and SQL, so it requires the highest standards in processing power,” said John Glendenning, vice president, OEM sales, at Citrix. “Virtualization is key to providing a cost-effective, efficient and future-proof datacenter, and XenServer has been key to helping Tesco achieve its ambitions for a virtualized environment that supports mission-critical systems. The Citrix Delivery Center approach has enabled Tesco to create a customized virtualization strategy, using XenServer and HP for integrated server virtualization and XenApp and XenServer for the most efficient delivery of applications to stores across the country. The strategy is helping Tesco achieve its operational objectives – ultimately, it helps Tesco provide a better service to its customers.”

“Tesco can achieve immediate cost savings and long-term business growth goals by virtualizing their key business applications with HP BladeSystem Servers running Citrix XenServer,” said Jim Ganthier, vice president, Marketing, ESS Infrastructure Software and BladeSystem, HP. “The combination of HP BladeSystems and Citrix technology helps companies like Tesco strategically spend and carefully prioritize their technology investments – a critical task in the current economy.”

The Citrix solution provisions both virtual and physical servers, resulting in increased IT responsiveness and agility by enabling capacity on-demand, and the ability to manage provisioning for disaster recovery and business continuity. In addition, XenServer is optimized for XenApp, providing customers with enhanced scalability and faster performance for Windows application delivery running in a virtualized environment.

Citrix and HP have been collaborating since March last year to help customers deploy and manage virtualized environments faster and easily than before.

Intel Pentium 4 2.4 GHz - RK80532PC056512 (BX80532PC2400D)

Next Pentium 4 core - Northwood - was a die shrink of Willamette core. Based on 0.13 micron technology, Northwood microprocessors had lower voltage, and, as a result, lower power consumption than Willamette CPUs. The size of level 2 (L2) cache in this core was increased to 512 KB, besides that there were no major changes in microprocessor microarchitecture. Bigger L2 cache gave Northwood processors 5% - 20% speed boost over Willamette processors. Front-side bus frequency in first Northwood microprocessors didn't change. Over time the bus frequency was increased to 533 MHz, and finally to 800 MHz.

Acer Intel Core Duo T2250 120GB Laptop

The TravelMate 4200-4831 Notebook allows you to experience all the benefits of dual-core performance and more at a price you can live with. Intel Centrino Duo Mobile Technology includes a processor optimized for the multitasking you do every day plus full 802.11a/b/g wireless capability.

Manufacturer: Acer, Inc

Manufacturer Part Number: LX.THA0Z.009

Manufacturer Website Address: www.acer.com

Product Line: TravelMate

Product Name: TravelMate 4200-4831 Notebook

Processor: Intel Core Duo T2250 1.73GHz

Processor Technology: Enhanced SpeedStep Technology

Bus Speed: 533MHz

Chipset: Intel 945GM Express

Standard Memory: 1GB

Maximum Memory: 2GB

Memory Technology: DDR2 SDRAM

Hard Drive: 120GB 5400 rpm

Optical Drive: DVD-Writer - DVD-RAM/�R/�RW (Integrated)

Display Screen: 15.4" WXGA Widescreen Active Matrix TFT Color LCD

Graphics Controller: Intel Graphics Media Accelerator 950 PCI Express

Network: Intel PRO/Wireless 3945ABG 54Mbps Wi-Fi IEEE 802.11a/b/g

Keyboard: 88-key

Ports: 1 x DC Power Input

Operating System: Windows Vista Business

Batteries: 1 x 6-cell Lithium Ion (Li-Ion) Standard Battery

Dimensions: 1.2" Height x 14.1" Width x 10.4" Depth

Sell Intel Laptop Notebook Pc with Intel Centrino Duo Technology

Processor Intel Pentium M (Centrino) 1.4Ghz
Memory 512Mb DDR PC2100
Hard drive 30Gb
Display 14.1 XGA TFT Display 1024x768
Graphics ATI Mobility Radeon 9000
Optical Drive DVD-ROM
Networking Dell Wireless mini-pci card (internal), Ethernet
Operating System Windows XP
Condition This is a second hand, used laptop and has been refurbished by the laptop centre
Warranty 90 days
Features 1 x Serial (RS232), 1 x Parallel, 2 x USB 2.0
Included With Good Battery and AC Mains Power supply.

Place of Origin:	Shanghai Shanghai in China
Model No:	tntel
Package:	original box
Delivery Time:	4-6

Entry Level iPhone Model Could Raise Sales to 25 million for 2008

RBC’s analyst Mike Abramsky wrote in a research note that either a secondary, entry iPhone model or an unusually low price for the near certain 3G model could accelerate Apple’s sales growth between 50 to 100 percent, resulting in 20 to 25 million iPhone by end of 2008. Such a growth could lead to between $2.7 billion and $5.4 billion in extra revenue for Apple. The demand for new iPhone is also high, around 70% of people in an RBC poll who are interested in the device are first-time buyer of the iPhone. It is largely believed that Apple is working on a smaller iPhone but there is no information about when Apple plans to release such a phone.