BNP Paribas CIB – Trading Day

Over a one day period we give you a snapshot into life trading on our London Floor.

What you want to do to conspire to the other 43 sounds really tight so why would you why wouldn’t you want to reduce your opposition such a low low things if they’re changing their dollars of the sorry that means they’re buying and selling sally with the central bank with the central bank my name is philip becker and co-head of the emea fx and interest rate trading

Group at bnp paribas and we’re a group of about 25 traders spread across the europe middle eastern african time zones we also have trading hubs in moscow bahrain budapest warsaw and sofia but london is is our main center where we have the highest headcount bleeping sound energy pairing on our debts is the voice is dealing issue and they’re actually incoming calls

And those because could come from anywhere from another bank to a counterparty or an even internal call from another bnp paribas entity for example new york montreal milan everyone has this system and that’s one of the principal methods we use for training then department yeah there’s a bond auction and tel aviv for government vomits denominating in his ratio

And we’re bidding a total of 700 million shekels and and the orders just going in through now 100 million dollars it’s 375 million shekels so it’s just about two hundred million dollars that we’re doing we like responds because there’s a positive what’s called a positive assets what do i buy the yield on the bond is higher than an equivalent yield in the money

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Market there was an auction in hungary today for hungarian government debt a news report came out from bloomberg which is a news service and one an hour trader in budapest is quoted on the report that bloomberg would have telephoned a mother and asked is this view on on the market goings-on and then we’ve just been quoted in that particular i think you don’t know

In israel is a bit smelly escalating abita yeah there’s an exchange of fire between israel and lilies almost like one bottle is one thing gonna ticker and and that’s typical of the sort of global events that affect our markets particularly since we’re sort of hands on trading conflict in israel is a fact of life what we will be watching is if it escalates and get

Worse if it does escalate then we have a problem it’s on absolutely every day we have to eat on the desk answer it’s only on an ad-hoc basis depending on how much work we have yeah what’s up million dollars the cook – okay as a cross currency yeah that product we just got a request for a price in a turkish lira cross currency swap it came through our turkish sales

Desk through the school box here it was an 18-month cross currency swap in 30 million dollars and we just priced that up talking to our voice brokers and then using our pricing system here if turkish shields move by one basis point our profit and loss can either go up or down by say 10,000 euros so we just got the picture results from from israel but in competitive

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Bids for up to six hundred million shekel and the result was we only got 400 out of that 600 million it’s a relatively small trade for us because that amounts to just over a hundred million dollars because the duration is so short the actual economic significance audiences is quite muted okay i mean the inversion of the curve still doesn’t make any sense what i

Like but it just is wrong thanks a lot if we were trading any other currency like euros or dollars it’s a 24-hour market but because our currencies are less liquid more exotic it really ends with london and tomorrow’s another day

Transcribed from video
BNP Paribas CIB – Trading Day By BNPParibasCIBStudent