You're trying to look for a job in prop trading? You get an interview invitation from them?
Someone asked the same question within the forum to no avail before.

Check link below for your reference:
https://forums.hardwarezone.com.sg/employme...ce-5748729.html

yeah got an interview invitation from them lol

Share la your story... Got hired?

EU GU buy bottom, get ready to execute.

That should give us a good entry.

wait wait wait

hvnt/didn't go

If you go, share story here plz. I'm super interested to know how these people operate.

emily ,

do u familar with FEB REPO news? Thanks

https://www.zerohedge.com/markets/fed-losin...other-direction

https://forums.hardwarezone.com.sg/employme...ce-5748729.html

Check the link above I posted earlier, you will get a glimpse or rough idea of how they operate.

But based on conversation with mrbigggyy, they have expanded out of SG and JB so who know they might have operated differently from what's available online already.

Ya I just want to know if it is the same as the sg forum one. In fact over here also, we have a lot of people who seem so desperate for the portfolio manager lifestyle. All also want to try to join some online fund manager firm. But all also need to pay some kind of money first.

I said it before and will say it again. If I have to take out money first, I should be the customer. No job will ever ask you to pay money and then ask you to be worker. In this industry, they want to attract the best and brightest into their company. Asking potential fund managers to fork out money to get employed is not the way to entice them to join your firm.

What do you want to know? Your question so broad...
The article did summarize what's happening quite well in the last few paragraphs.

Basically fed pump too much money into the market. So now the effective interest rate getting too close to the lower bound of what is permissible.

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basically REPO ,
how does it affect FX ?


Eg , now FED pump too much USD.

Does this mean USD would be weaker ?

USD is in demand to pump US market to ATH...

Dollar index is still in uptrend

Still patiently waiting since 2018 for implosion & recession

Ps...rest of the world central banks are also cutting rates n printing money... the game continues...

This post has been edited by dwRK: Nov 14 2019, 10:32 AM

First thing you need to know is 'what is repo'. Basically,
1)Forex is settled daily. That means in their account books, if a bank is short a certain currency, they need to borrow it from somewhere to square off.
2)They do this by borrowing from other financial institutions. Usually these are other banks.
3)The rate at which they charge interest is the repo rate. This rate is usually similar to the interest set by that country's central bank.
3a)For example, if you need to borrow dollars, you will go to an american bank and borrow some dollars for 1 night. You repay the money back tomorrow with the interest rate set by the US central bank. At this point of writing, that interest rate should be 1.5%-1.75%. Same case, if somebody wants to borrow ringgit, they will find a Malaysian bank and borrow ringgit from us. Then the next day they will repay with 3% interest as set by bank negara opr rate.
3b)Bonus info: This is where your +ve or -ve swaps come from when you trade forex. When you sell eurusd, you're selling euros and buying dollars. At the back office, your broker will receive the swaps at the end of the day and pass it to you. The opposite is true.

4)Repo market is the main tool used by central banks to inject or take away liquidity in the market. Those quantitative easing things you hear on the market is basically done through the repo market.
4a)Fed purchases Treasury securities to increase the supply of money and sells them to reduce the supply of money.
4b)For example now the fed is buying up treasuries. If you are a bank that needs some USD, you can "lend" the fed your bonds overnight and get some USD + interest. So when your swap unwinds, you now have your bonds back + a little bit of extra USD. By doing this, the fed effectively print money and inject liquidity into the financial system.

5)Last month, there was a liquidity crisis. There was not enough dollars in the market. So people started charging a higher price to lend out their dollars. In other words, the repo rate shot up too high, beyond the set interest rate by the fed. In the past, bear sterns went bankrupt because they couldn't square their books due to liquidity crisis. And that subsequently started the 2008 financial crisis. So now the fed wants to make sure that it can always maintain the repo rate close to their set interest rate. Because markets get scared when there's a liquidity crisis.
5a)The fed has been doing "quantitative easing" everyday since then.


6)Because they have been injecting the market with so much cash, the repo rate will naturally drift lower. But as the article wrote, this is strictly better than "not enough dollars". They want a low interest rate to spur the economy into spending. Because part of their mandate is to achieve a 2% inflation rate.
7)At the moment, there is no cause for concern. This is likely a non issue. Even if it drifts lower, the fed can simply stop the bond swaps and the market will be back to normal.

8)If repo rates are the only thing that affect USD, then yes, the USD should be lower. But right now, the market is focused on trump's trade deal. If the trade deal is successful, then dollar will rally. If the deal is not successful, then dollar will fall.

Thank you so much Emily.
This really help me to understand the Repo.

*If this is similar to Forexfactory , i would definately "liked" your post + subscribe to u as 1% High Impact Member

The fall could be temporary right?... if market continues to crash and trigger a recession, then USD will be in demand again as one of few 'safe' currently to horde.

So this part I'm not really sure. Coz ultimately I'm not a fundamental guy.

But you're right... when market is very scared they will buy dollars as a safe haven.

My thought is as such:
-If we're in risk on mode, like right now, then dollar will rally if things are good, sell if things are bad.
-If we're in risk off mode, when things are bad, dollar will go up. If things are good then I dono

But again, I don't really know the reason. I want to know too lol. If someone can explain to me I'll appreciate

Currently Trade war ,

good news == EUR/USD fall
Bad news == EUR/USD rise

EUR start to behave like "safe haven" status.