I've just put the phone down after a long conversation with George Tchetvertakov, head of market research at Alpari UK. We started off talking about the new NFA "hedging" regulations and their effects on the retail foreign exchange business. Eventually we moved on to discuss some other topics, including using hedging as a means of reducing risk, and George's opinions about markets in general.
Filed under Regulation by 
Prompted by a comment from Michael to a post about the hedging ban, here's some more information about regulated alternatives to over the counter retail forex.
The Chicago Mercantile Exchange (CME for short) first introduced currency futures contracts back in 1972. These "full-size" contracts were traded using the venerable open outcry method, which involved traders gesticulating and shouting at each other across a trading pit.
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As you know, I was idly perusing the Boston Technologies website the other day when I happened across their very own MetaTrader robot, which seems to have developed an unfortunate habit of losing money rather than making it hand over fist.
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I took part in a discussion over at the Forex Magnates site, where some traders expressed the view that "Greed is Good" and "There is nothing wrong with greed. Greed means you want things". I disagree. I don't think it's that simple. I think that greed at the corporate level is not good, and that greed at a personal level is not good, especially if you're a trader. I'm not the only one.
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