At the start of the quarter, market participants
remained wary of further risks of deflation in Japan, associated deterioration in the Japanese financial system, and persistent, large trade and current account surpluses.
During this period market participants
expected that the German Bundesbank would continue to ease short-term interest rates in response to the weakening German economy.
During the lengthy negotiations among European Community countries on European Monetary Union that had led up to the December 1991 Maastricht Treaty, market participants
had become impressed by the participating governments' evident commitment to exchange rate stability.
Earlier in the year, the dollar had risen sharply as market participants
grew more confident about the strength and sustainability of the U.
Understanding these complexities and identifying ways to simplify the execution of Master Confirmation Agreements (MCAs) between market participants
would be an important first step to ease the processing issues in these products.
The experience of the Swiss franc revealed to market participants
the risks facing the authorities in other European countries experiencing weak growth, such as the United Kingdom, if they cased policy without a corresponding move in Germany.
In response, market participants
rushed to reduce their holdings of assets denominated in those European currencies that had previously appeared attractive because of their high yields but that no longer carried a yield sufficient to compensate for their perceived exchange risk.
Ongoing automation and enhanced monitoring capabilities will let the Bank move to a more open set of trading relationships, thus disabusing market participants
of the notion that the primary dealers have a special status.
External Training: The ISO began offering instructor-led training courses for Market Participants
in late August -- 16 months before the "go live" date for MRTU.
were impressed by the strength of public support for a more democratic government in the Soviet Union and at the same time surmised that the threat to continued liberalization might induce Western nations to offer substantial assistance to Eastern Europe.
Contents of interaction between the market participants
, in the essence, represent the system of relations and mechanisms of their regulation.
Regulatory Guide 250 Guidance on ASIC market integrity rules for risk management and other requirements: ASX 24 market (RG 250) gives guidance on the obligations of market participants
of the ASX 24 market on risk management for house accounts, supervisory policies and procedures, and minimum presence requirements for foreign market participants