Puthankote Vadakeveetil Aboobacker
Insights into the Currency Market by Mr. P V Aboobacker
P V Aboobacker is the CEO of Pride Group Ltd that is headquartered and based in Dubai. As the executive head of Pride Group, Aboobacker constantly strives for the best outcome for his clients and all the stakeholders of Pride Group. Under Mr. Puthankote Vadakeveetil Aboobacker’s guidance Pride Group ventured into Financial Services interests concentrated principally in the areas of private commodity exchanges, commodity and foreign exchange brokerage, broker-dealer operations, currency exchanges, start-up funding and angel investments.
Mr. Aboobacker has had a lengthy stint managing many financial consultancies and other advisory firms. This puts him in a unique position to offer insightful tips on the internal workings of the trading world. The currency market, or forex (FX), is the largest investment market in the world, and continues to grow annually. On April 2010, the forex market reached $4 trillion in daily average turnover, an increase of 20% since 2007. In comparison, there is only $25 billion of daily volume on the New York Stock Exchange (NYSE).
According to Mr. P V Aboobacker, the market may be large and until recently the volume came from professional traders, but as currency trading platforms have improved more retail traders have found forex to be suitable for their investment goals. Currency trading is a 24-hour market that is only closed from Friday evening to Sunday evening, but the 24-hour trading sessions are misleading. There are three sessions that include the European, Asian and United States trading sessions.
Although there is some overlap in the sessions, the main currencies in each market are traded mostly during those market hours. This means that certain currency pairs will have more volume during certain sessions. Traders who stay with pairs based on the dollar will find the most volume in the U.S. trading session.
Richard Kapsch Chicago who hails from Chicago possesses experience in every phase of management in both large and small organizations. Mr. Richard Kasich was a member of the International Monetary Market, a division of the Chicago Mercantile Exchange, for eleven years. Later on Mr. Kasich went on to be elected to the Board of Governors of the Chicago Mercantile Exchange, where he served for five years. While a member of that Board, he chaired the Foreign Currency Committee and was a member of both the Strategic Planning and Audit Committees.
Mr. Aboobacker has had a lengthy stint managing many financial consultancies and other advisory firms. This puts him in a unique position to offer insightful tips on the internal workings of the trading world. The currency market, or forex (FX), is the largest investment market in the world, and continues to grow annually. On April 2010, the forex market reached $4 trillion in daily average turnover, an increase of 20% since 2007. In comparison, there is only $25 billion of daily volume on the New York Stock Exchange (NYSE).
According to Mr. P V Aboobacker, the market may be large and until recently the volume came from professional traders, but as currency trading platforms have improved more retail traders have found forex to be suitable for their investment goals. Currency trading is a 24-hour market that is only closed from Friday evening to Sunday evening, but the 24-hour trading sessions are misleading. There are three sessions that include the European, Asian and United States trading sessions.
Although there is some overlap in the sessions, the main currencies in each market are traded mostly during those market hours. This means that certain currency pairs will have more volume during certain sessions. Traders who stay with pairs based on the dollar will find the most volume in the U.S. trading session.
Richard Kapsch Chicago who hails from Chicago possesses experience in every phase of management in both large and small organizations. Mr. Richard Kasich was a member of the International Monetary Market, a division of the Chicago Mercantile Exchange, for eleven years. Later on Mr. Kasich went on to be elected to the Board of Governors of the Chicago Mercantile Exchange, where he served for five years. While a member of that Board, he chaired the Foreign Currency Committee and was a member of both the Strategic Planning and Audit Committees.
