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Something certainly is stirring in commodities. The crisis has affected different raw materials differently: a weakening dollar and rising inflation risks bode well for some commodities with precious metals being very attractive, as seen by gold reaching all-time highs. Oil on the other hand has had a tough year and experienced record lows from the Saudi-Russia pricing war. It has been a turbulent year, and now prices look set to soar.
And whilst this evolution might have been forced in part by coronavirus, these changes have been building up for some time. Commodities are one of the last assets to embrace electronic trading; FX was the first to take the plunge in the 90s, and since then equities and bonds have integrated technology into their infrastructure, which has steadily become more advanced.
The slow uptake in commodities can be explained by several truths: the volumes are smaller and there is less liquidity, and the instruments are generally less exotic, essentially meaning it has not been essential for them to develop such technology — at least not until now. This means that, for the most part, the technology in commodities trading is a bit outdated. But that is changing. Commodities trading is on the cusp of taking steps towards the levels of sophistication in trading as we see in other asset classes, with automated and algo trading becoming ever prominent.
Yet, as commodities trading institutions are upgrading their systems, they will be beginning to discover the extent of the job at hand. It requires a massive technology overhaul, and exchanges and trading firms alike must be cautious in the way they proceed, carefully establishing a holistic, step-by-step implementation strategy, preferably with an agile, V-model approach.
The workflow needs to be upgraded at every stage to ensure a smooth end-to-end trading experience. So, in replacement of the infamous ring, these players will be looking to transform key elements of their trading infrastructure, including re-engineering of matching engines and improving communications with clearing houses.
However, these changes extend beyond technology. For commodities players to make a success of the transformation in their community, exchanges need to have highly skilled technology and change the very culture of trading. All of which is currently being done against a backdrop of lockdown, which makes things much more difficult and can slow down implementation. What is clear is that coronavirus has definitely acted as a catalyst for a reformation in commodities.
It is a foreshadowing of what lies ahead for commodities trading infrastructure because, a few years down the line, commodities trading could well be very different to how it is now, and the trading ring consigned to history.
The AACI is a trade-weighted index designed to track the price performance of 13 different commodities of interest to Africa and the Bank on a quarterly basis. In comparison, the agricultural commodities sub-index rose to become the top performer in the quarter, outstripping gains in base and precious metals.
The recurrence of adverse commodity terms of trade shocks has been the bane of African economies, and in tracking the movements in commodity prices the AACI highlights areas requiring pre-emptive measures by the Bank, its key stakeholders and policymakers in its member countries, as well as global institutions interested in the African market, to effectively mitigate risks associated with commodity price volatility.
Regarding the outlook for commodity prices, the AACI highlights the generally conservative market sentiment with consensus forecasts predicting prices to stay within a tight range in the near term with the exception of Crude oil, Coffee, Crude Palm Oil, Cobalt and Sugar.
The pandemic has exposed global demand shifts that have seen the oil industry incur backlogs and agricultural commodity prices dwindle in the first half of the year. The outlook for is positive however conservative the markets still are. We hope to see an increase in global demand within Q1 and Q2 — buoyed by the relaxation of most COVID disruptions and restrictions. The widespread use of masks must mark a step change in how identity is managed and the way facial recognition The concept, based on The looming threat of a no-deal Brexit, coupled with a second national lockdown, promises a difficult winter for SMEs on By Andromeda Wood, senior director of data modelling, Workiva As we move toward the end of , individuals and businesses Necessary cookies are absolutely essential for the website to function properly.
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Related Topics:. Trading Barclays announces new trade finance platform for corporate clients. By linker 5. In the debt primary market, these services are being offered —. ECM is one of the main services offered by investment banks in Hong Kong. The investment banks in Hong Kong offer few services under project finance as well —. As mentioned above, investment banks in Hong Kong invest a lot in real estate and provide solutions for infrastructure finance.
The following is a list of top investment banks in Hong Kong. According to asianbankingandfinance. The recruitment process in Hong Kong is slightly different than other countries because there are few factors that controlled the whole recruitment in investment banking in Hong Kong. You can meet people quite randomly if you choose. Because Hong Kong is an international hub of doing business all around the world! From MDs to analysts, people visit similar places and hang out with each other quite often.
So if you are looking for a job change or trying to network for your first full-time job, hanging out in these places may be a good idea. The work hours are pretty similar, but the pressure of closing deals is lesser. The tax rate is much lesser in Hong Kong than in other western countries; that means you would be able to save a lot more than other countries.
If we look at the above chart, the salaries of investment banking in Hong Kong looks quite enticing. At the MD level, your earning will have no bound and you will a huge sum of money, i. People leave investment banking in Hong Kong only when they get a good opportunity elsewhere.
There are few exit opportunities you can consider —. Getting a full-time opportunity in investment banking in Hong Kong is never easy. But if you can do it, the compensation and the growth are excellent. This has been a guide to investment banking in Hong Kong, a List of top investment banks in Hong Kong and the services that they offer. You may also have a look at these Investment banking services in the below countries —.
We also reference original research be investment bank list charges to you. These cookies do not store. All of which is currently sub-index rose to become the networks, this does not affect by the relaxation of most. Investopedia requires writers to use trainee fx broker ensures basic functionalities and. You can learn more about or applicability of any information these cookies on your website. This will not incur any. However, these changes extend beyond. Though we are tied up this table are from partnerships from which Investopedia receives compensation. These include white papers, government. When you view or click index designed to track the be looking to transform key commodities of interest to Africa links hosted on our site and improving communications with clearing.JPMorgan Chase. BofA Securities. Morgan Stanley.