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Introduction: Change Continues in the FX Market
In recent months the foreign exchange market has undergone significant changes impacting all market participants. In this period of uncertainty, the focus returned to risk management and control, which remain critical and sometimes undervalued elements of our business. This handbook, which has been published by Euromoney and FXall for five years, is broadly read by FX traders at all types of institutions – more han 30,000 copies were printed and distributed in 2008. We believe that highlighting the critical challenges that every organization is facing and sharing ideas will enable the industry to evolve. To keep our markets vital, we all must be committed to continually improving our trading and workflow processes to be more effective and minimize risks.
In this year’s edition of the Euromoney/FXall Best Practice in Foreign Exchange Markets Handbook, we hope to bring you insights into the new challenges facing institutional foreign exchange market participants. In this current environment, best practice remains a priority. In our article on minimizing and managing trading risk, we look at the tools available for traders to maximize their effectiveness and reduce their market impact.