HSBC Midland Begins Trading "Grey" Euro Forward Contracts
BANKS
LONDON--HSBC Midland in London has begun trading forward euro contracts, according to an official at the bank. The two forward sterling/euro trades, executed on June 5 with two UK corporates for settlement in March and May 1999, are believed to be the first such trades conducted.
However, unlike some of the "grey" euro forward contracts currently being offered by some banks in the City (FXW, June 8), which are calculated using different sets of data (including the Ecu currency basket and GDP
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