Global financial institutions have started preparing their systems for the eventuality of a Greek exit from the euro zone as radical left party Syriza continues to lead in the polls two weeks before elections.
A number of financial institutions including UK listed broker-dealer ICAP Plc (LON:IAP) have started stress testing their systems to prepare for the possibility of a 'grexit' from the euro zone as the elections on January 25th are nearing. Major banks, including Citigroup and Goldman Sachs, are aiming to secure the functionality of their systems in extreme market conditions.
Foreign Exchange trading platforms are tested for a variety of scenarios, including the return of the Greek drachma to the currency markets. Other functionalities being stress-tested are potential capital-controls constraints and counterparty risk checks for Greek debt exposure.
The latest polls from Greece suggest that the radical leftist moods across the electoral spectrum are supporting the possibility of a dramatically different course of action going forward. Despite the threat of a 'grexit' While the radical left leader Alexis Tsipras has pledged to fund the first quarter Greek government expenditures by issuing T-bills, a warning from the finance ministry might derail his plan.
The radical left Syriza party’s prospective government would need approval from the EU and the International Monetary Fund (IMF) before proceeding with an issue of short-term government paper.
Mr. Tsipras is running on a platform of reversing austerity measures and further restructuring Greek debt. While on Saturday he said that treasury bills can be used by the government to secure the country’s funding needs until March 2015, the Greek finance ministry issued a statement disproving his thesis.
“Greek banks will have difficulty in securing the necessary Liquidity in order to buy Greek treasury bills if the review of the economic program by the EU/IMF is not completed or extended after the 28th of February,” the finance ministry said in a statement.
Latest Elections Poll Results
A stable lead by Syriza against the conservative party led by former prime minister Antonis Samaras, New Democracy, has been an ongoing theme in election polls during recent weeks. The latest poll results are no different with two polls giving between a 2.6 and 3.2% lead to the radical left.
A slew of smaller parties follow, tied around the 5% mark which, for now, supports the possibility of a government forming after the election. If history is any guide, this could only be the first in a series of elections, since should an anti-austerity coalition be formed, the Greek financial system is very likely to be materially affected by the lack of ECB funding.
A number of financial institutions including UK listed broker-dealer ICAP Plc (LON:IAP) have started stress testing their systems to prepare for the possibility of a 'grexit' from the euro zone as the elections on January 25th are nearing. Major banks, including Citigroup and Goldman Sachs, are aiming to secure the functionality of their systems in extreme market conditions.
Foreign Exchange trading platforms are tested for a variety of scenarios, including the return of the Greek drachma to the currency markets. Other functionalities being stress-tested are potential capital-controls constraints and counterparty risk checks for Greek debt exposure.
The latest polls from Greece suggest that the radical leftist moods across the electoral spectrum are supporting the possibility of a dramatically different course of action going forward. Despite the threat of a 'grexit' While the radical left leader Alexis Tsipras has pledged to fund the first quarter Greek government expenditures by issuing T-bills, a warning from the finance ministry might derail his plan.
The radical left Syriza party’s prospective government would need approval from the EU and the International Monetary Fund (IMF) before proceeding with an issue of short-term government paper.
Mr. Tsipras is running on a platform of reversing austerity measures and further restructuring Greek debt. While on Saturday he said that treasury bills can be used by the government to secure the country’s funding needs until March 2015, the Greek finance ministry issued a statement disproving his thesis.
“Greek banks will have difficulty in securing the necessary Liquidity in order to buy Greek treasury bills if the review of the economic program by the EU/IMF is not completed or extended after the 28th of February,” the finance ministry said in a statement.
Latest Elections Poll Results
A stable lead by Syriza against the conservative party led by former prime minister Antonis Samaras, New Democracy, has been an ongoing theme in election polls during recent weeks. The latest poll results are no different with two polls giving between a 2.6 and 3.2% lead to the radical left.
A slew of smaller parties follow, tied around the 5% mark which, for now, supports the possibility of a government forming after the election. If history is any guide, this could only be the first in a series of elections, since should an anti-austerity coalition be formed, the Greek financial system is very likely to be materially affected by the lack of ECB funding.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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