FX desks
Could someone with first-hand knowledge give some insight towards the culture regarding the FX desks at their bank? Doesn't matter if it's spot or futures, vanilla or exotic, any insight at all would be much appreciated. I do have one question specific to vanilla spot though, and that is: do traders in NY have to come in at 3-4AM in order to trade the london/euro session (the busiest)?
Could someone with first-hand knowledge give some insight towards the culture regarding the FX desks at their bank? they're fun guys. Doesn't matter if it's spot or futures, vanilla or exotic, any insight at all would be much appreciated. these desks are quite different I do have one question specific to vanilla spot though, and that is: do traders in NY have to come in at 3-4AM in order to trade the london/euro session (the busiest)?
no, that's what london desks are for.
NY is by far the little brother of london in FX
I thought the intersection of NY and London sessions is the busiest.
It would be between 1200pm GMT and 0400pm GMT during daylight saving in the Northeast-3 major markets are open and then it goes down to only US and London one hour before complete close down in Europe. I am sure I haven't given the exact timings based on the GMT as GMT is also the London standard in winters.
It is correct that the time between 7am GMT and 12pm GMT is equally or more important-when Japan, London and the rest of the Europe are active.
But, the "busiest" session is the one involving Europe, London and NY-the movement of spikes in this session resemble dogfighting!
it's busy whenever london is open. our fx spot desk gets in around 6:30-7am. it's generally quiet there in the afternoon. but they don't work london hours.
what time do they leave? what kind of things do they do in the afternoon when londons closed?
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