tianxin

I work on an FX trading desk and believe me even I find the way they quote currencies in the CFA confusing! I started off converting everything into "market convention" (EUR/USD, USD/JPY, USD/CAD, etc....where EUR/USD is the USD amount per EUR), but then I ended up getting totally confused with the calculation of the party relationships, so I actually think it might be easier to just follow the CFA text and memorize it. If in doubt, it is always best to make up a quick example to check...