BRAC Bank organises FX Market and Technical Strategies for FX Dealers
BRAC Bank organised a two-day interactive event on Foreign Exchange (FX) Market and Technical Strategies, including a simulated FX Bourse Game in Cox's Bazar on 24-25 February.
The event was attended by FX Dealers of the Treasury Divisions from 32 banks in the industry, reads a press release.
Md Shaheen Iqbal, CFA, deputy managing director and head of Treasury & FIs, BRAC Bank, conducted a session at the event on Local and Global Market Outlook, where he highlighted the challenges and opportunities in the local market and emphasised the importance of risk management in the wake of the global paradigm shift in interest rates and inflation.
On the second day, Akshay Chinchalkar, CMT, CFTe, EPAT, co-head of the Mumbai Chapter of Chartered Market Technician (CMT) Association, conducted a session on FX Technical Strategies, where he illustrated various trading strategies suited to currency movements and their effective application.
The event concluded with a Simulated FX Bourse Game, where participants used BRAC Bank's 'Electra,' the only FX trading platform by any domestic bank in the banking industry that provides streaming 2-way pricing for major currency pairs to partner banks. The best-performing banks were awarded at the end of the program.
At the concluding session, Md Shaheen Iqbal, CFA, called for concerted efforts and partnerships amongst the banks to strive toward market development and match the efficiency of the global market.