China to set up firm for managing forex reserves

BEIJING: China plans a special firm to manage one fifth of its forex reserves, laying the foundations of a behemoth that will handle more money than the biggest mutual fund in the world, state media said on Friday. The State Foreign Exchange Investment Company is expected to be in charge of $210 billion, or more than the Growth Fund of Americas approximately $160 billion of assets, according to the reports. The State Council proposed at the national finance work conference (last month) to set up a special forex investment institution, an official with Central Huijin Investment Co, a government investment arm, told AFP. The State Foreign Exchange Investment Company will get its $210 billion as part of a plan to divide Chinas $1.07 trillion of reserves into three portions, the Southern Weekly paper said, giving no sources.

Three Reasons Why Forex Trading is So Popular

There is a new type of short term trader whose ranks are growing by leaps and bounds. Forex trading is fast becoming many short term traders' preferred investment choice.
Port St. Lucie, FL (PRWeb) January 24, 2007 -- There is a new type of short term trader whose ranks are growing by leaps and bounds. Forex trading is fast becoming many short term traders' preferred investment choice. Here are three reasons why forex trading is so popular: First, it may be necessary to explain what forex trading is. Forex trading, also called currency trading, FX trading, Foreign Exchange trading and forex currency trading refers to the largest financial investment market in the world. Forex trading is fully electronic and has an average daily capital turnover amount in the area of $1.5 trillion.

New Exchange Traded Funds (ETFs) On The SWX Swiss Exchange

Five new products have been listed in the Exchange Traded Funds segment of the SWX Swiss Exchange, taking the total to 66 ETFs. The new funds are:
Lyxor ETF Dax. The trading currency is EUR. Lyxor ETF MSCI India. The trading currency is USD. Lyxor ETF MSCI USA. The trading currency is USD. Lyxor ETF MSCI World. The trading currency is USD. Lyxor ETF Japan (TOPIX). The trading currency is JPY.
Socit Gnrale has signed a market-making agreement with SWX and will be responsible for ensuring liquidity in these securities.
SWX Swiss Exchange The SWX Swiss Exchange, a part of the SWX Group, is one of the world's leading and most technologically advanced securities exchanges. The fully automated trading, clearing and settlement system remains unique in the world.

FXDD Launches Automated Currency Trading Platform

FXDD, a global leader in online foreign currency exchange, is pleased to announce the launch of FXDDAuto, an automated currency trading platform based on Tradency's forex platform. The exclusive venture between FXDD and Tradency brings together cutting-edge technology, proprietary access and a global support network. FXDDAuto allows forex traders to streamline their efforts, adjust strategies and design and test portfolios using real-time and historical data without incurring prepaid subscription fees or requiring complex programming. This customized perspective greatly enhances a trader's ability to manage and assess the risk in their portfolios and to make changes as the market demands. FXDDAuto's basket of over 50 systems and signals adds a powerful new dimension to online forex trading.