In early December, the international Forex industry witnessed a major event. The thing is that TeleTrade, one of the true heavyweights and veterans operating in the Forex brokerage field, has just celebrated its 20th anniversary!
The very fact that the Forex broker has been doing tis best to deliver premium-quality services for 20 decades is amazing! It is really worth special attention. It should be noted that TeleTrade is one of the very few Forex brokers that survived the 2 latest major crises while continuing its way up to the top while other companies struggled… Without any doubt, other relatively younger companies definitely have a lot to inherit from TeleTrade in every single aspect of operating in today’s rough and competitive Forex environment.
The company’s management decided to celebrate the 20th anniversary by hosting a major event - an international conference gathering thousands of trading experts, analysts and economists.
For the first time in history, the audience exceeded 10 000 visitors while 500 of them were active participants sharing their experience with others. In particular, the event was hosted by Digital October. Those who failed to be present at the event offline could watch it online at http://cmconference.ru via Google TV and Youtube.
The Vice CEO of TeleTrade was happy that the company’s 20th anniversary matched he event since this conference is not designed just to exchange views and tips. It is for working out new solutions and new meanings.
At the same time, he expressed the desire to make it an annual event in order to help the industry in general and the company in particular keep on evolving and coming up with new ideas and innovative solutions mined at efficiency and transparency.
The first session of the conference was dedicated to macroeconomic aspects. the experts representing some of Russia’s major banks along with the representatives of Citi,World Bank and the US Chamber of Commerce discussed currency wars, global energy sector transformations and the prospects of global reserve currencies.
In particular, the Renminbi (the Chinese Yuan) was mentioned as a nominee of the next-generation global reserve currency. The experts were sure that the world needs another global reserve currency, thereby offering the Renminbi. Others expressed the idea that the Russian Ruble seems to be more suitable for this role in several aspects. However, the Russian economy is still too small for backing this mission while still having potential.
There were reports on the share of USD and RUB in the global currency turnover relative to the global share of the US and Russian economies. In particular, it turns out that the US Dollar currently accounts for 87% of the global currency turnover while the USA’s share in the global economy is 22.7%. With that said, the US Dollar is a true goal reserve currency.
As for the Russian Ruble, its share is relatively tiny on a global scale. However, RUB is a regional currency. In particular, within the scope of the CIS, it counts for more than 50% of the transactions.
Meanwhile, most experts underline that fact that all the developing economies (including Russia) need structural reforms to recover and start flourishing. Some international experts predict zero economic growth in Russian within the scope of 3 years if there are no structural changes made to the economy.
Apart from that, the participants of the conference discussed a number of other major issues, including how to stimulate small and mid-scale businesses and creating favorite conditions for them.
However, the biggest event of the night was 4 workshops conducted by some of the most renowned
stars in the industry:
Normal Robin, the American economist who predicted the latest economic crisis.
Jack Schwager, a market wizard, successful trader and portfolio manager.
Nick Leeson, a former derivatives broker who managed to trigger the collapse of Barings Bank.
Andrew Lance, the author of an innovative Forex analysis model.
Those guys share their tips and tricks with the audience, which was a truly valuable lesson to learn…
