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It plans to offer a range of financial products, such as spot and forward foreign-exchange dealing, currency and interest-rate swaps, by linking corporate buyers of these products with a range of providers.
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Then he found a site he could deal currencies on, turning a web obsession into a money making hobby, and started to read-up on the world to figure out which way to bet on the dollar that day.
But the fund's prospectus gives its managers considerable leeway in dealing with currency risk.
That showed he had much more experience than Mr. Koch-Weser dealing with currency matters -- a crucial part of the I.M.F.'s duties.
Many of the documents were provided as late as last month, though in part because the transactions some 50,000 of them, many dealing in currency speculation were too complex to gather quickly.
Tyco's management emphasized that each division could then grow through acquisitions, using their new stocks as deal currency.
Bertelsmann, he said, intends to increase sharply its budget for acquisitions -- in part by spinning off more of its Internet properties, giving the company some of the cyberstock that is today's media-deal currency.
In the 1980s no Forstmann buyout would be financed with the deal currency of the day junk bonds, which he labeled "wampum".
Australians are also eager international travelers -- the country's 19 million people made 3.3 million overseas trips last year -- so many of them are accustomed to dealing in currencies other than their own.
In addition, they were not expected to give a clear signal on how to deal with currency fluctuations.
While working in the 1990s for Robert Rubin and Larry Summers, Bill Clinton's treasury secretaries, he dealt with currency and banking crises throughout the emerging world.
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