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Composition of a Dealing Room |
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The composition of an institution’s dealing room very much depends on that institution’s size, its spread of market interests and its client base. However, in general, the majority of institutions actively involved in the foreign exchange markets will have some or all of the personnel below:
Spot dealers
Spot dealers are the dealing section the media loves the most. Whenever there is pressure on nay currency, that pressure will be most noticeable on the currency’s spot value. They are the market makers.
Forward dealers
Forward dealers will normally be active market makers in the same major currencies as traded by the spot dealers. Her, rather than dealing on the minute-by-minute value of the currency. Forward dealers are looking at the relative currency rates over the standard forward period dates quoted by the market
Money Market Dealer
Money-market dealers control the interbank deposit and loan positions of the bank. The interbank market deals in all periods from the overnight to one-year fund and above. They are also responsible for funding he bank’s commercial asset portfolio.
Treasury product Dealer
Treasury product dealers are involved in numerous other activities, involving other financial instruments and newer off-balance-sheet products. Some of the treasury products lend themselves to trading activities (futures, options, etc.) while others are offered by the treasury products dealers as a customer service in-house, to providing assistance wherever it is needed in the management of all types of financial risk.
Corporate Dealers
Corporate dealers undertake a totally different role to that of the interbank dealers, in most situations they will not make a market, but will instead obtain rates from the market makers in response to their clients’ dealing requests and quote for those accordingly. They are, in effect, ‘middle men’, between the market makers and the clients. In their own right, they have a tremendous marketing role to play as in many respects they are the front-line representatives of the institution.
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| Symbol |
Rate |
| GBP:CHF |
2.007608 |
| GBP:JPY |
182.222212 |
| GBP:USD |
1.757198 |
| NZD:USD |
0.658397 |
| EUR:CAD |
1.503413 |
| EUR:CHF |
1.557680 |
| EUR:GBP |
0.775889 |
| EUR:JPY |
141.384148 |
| EUR:USD |
1.363390 |
| AUD:JPY |
80.415028 |
| AUD:USD |
0.775455 |
| USD:CAD |
1.102702 |
| USD:CHF |
1.142505 |
| USD:JPY |
103.700427 |
| USD:SEK |
7.185028 |
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Disclimer: This website is for informational purposes only and is not intended to provide
specific commercial, financial, investment, accounting, tax, or legal advice.
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© ForexCenter.com, 2005, All Rights Reserved
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