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FTS Real Time System Project: Trading Currencies In this case, you will trade currencies as an individual project. The goal of the exercise is to have some practical understanding of the mechanics of the spot foreign exchange market. This is also an exercise to encourage focused and well-organized writing on financial topics and to demonstrate your understanding of the determinants of foreign exchange rates as we will discuss them over the semester.

1. Initial Trade: Your trading account starts with slightly more than $1 million. You should start trading the day we discuss the case in class.

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2. Weekly trading: you must trade on at least three different days each week, starting on the first week, though you may trade as much as you like. You can either buy or sell any foreign currencies. It is your responsibility to ensure your trades enter the system, and for the correct account, as you will be judged on your trading activity.

3. It does not matter if you make or lose money in the case. It is about learning the mechanics of how foreign exchange quotations work, which is valuable for foreign investments, international trade, FX hedging, etc.

4. Positions: you should always have a long or short position in a currency that is quoted $/currency, and another that is quoted currency/$. Trade significant amounts of your capital.

5. If you go to the POSITION tab on the web site, you will see your foreign currency positions in the “Position Value” column. Your aggregate account value (net of any trading) is on the top line as “Global Value”.

6. Final report: The final deliverable is a roughly 2 page (single-spaced) research report, including graphics, on any one currency tradeable on FTS – you also do not have to have traded the currency to write about it. Look online for the style of equity/bond/currency research reports. The report should explain, using the concepts we have discussed throughout the course (such as Balance of Payments, exchange rate regime, central bank activity, interest rate effects, investment climate, GDP growth, political considerations, etc.) why the currency is at the value it is now, and where you expect it to go in the future. This should be turned in through TURNITIN as one file. Please write it as if it is a professional research report, citing sources using any citation format you wish, but do not use quotes in the paper. Use only your own words. The case is due by 2pm on Sunday, March 6th. No extensions will be allowed because we will have another case assigned immediately after, so be sure to start the case well in advance so that you do not have any issues.

Navigating the FTS Platform

 

Alternative 1

You may download the FTS platform software as follows:

Install the software (PC, or MAC with Windows emulator):

http://www.ftsmodules.com/public/modules/ftssystemmanager/setupSystemManager.htm

Once you have opened the software, use the FTS Real Time Client 4.0.0.4 (New) version of the software.

Choose “Download again before running.” Choose “Forex Case” with your name and password below.

 

Alternative 2

You may alternatively use the online system, which has less functionality/reports, but you can trade and monitor your position. Select “FOREX CASE” for the Trading Case. You can access these pages via smartphone as well, so you can trade any time.

http://www.ftsrealtime.com/

USER NAMES AND PASSWORDS ON OTHER SIDE

 

 

 

User Password Last Name First Name

BT1 BT1 Alix Sarah

BT2 BT2 Alongi Matthew

BT3 BT3 Aronowitz Hannah

BT4 BT4 Ashiagbor Kweku

BT5 BT5 Bass Noah

BT6 BT6 Belliveau Michael

BT7 BT7 Benacerraf Mizrahi Salomon

BT8 BT8 Bhojwani Rahul

BT9 BT9 Bin Yuslane Muhammed

BT10 BT10 Blaettler Jack

BT11 BT11 Blake Owen

BT12 BT12 Bolton Evan

BT13 BT13 Bou Hernandez Robinson

BT14 BT14 Bradshaw Patrick

BT15 BT15 Brady Kyle

BT16 BT16 Caldwell Frank

BT17 BT17 Carney Jack

BT18 BT18 Carson Nicholas

BT19 BT19 Chang Oscar

BT20 BT20 Chi Wei-Ching

BT21 BT21 Chiasson Stephanie

BT22 BT22 Clark Alexander

BT23 BT23 Conaton Tommy

BT24 BT24 Cortes Camacho Jose

BT25 BT25 Coutracos Nicholas

BT26 BT26 Dawit Dagmawi

BT27 BT27 Derolus Nathanael

BT28 BT28 Dietrich Corbinian

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