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Compliance officials questioned Kerviel about the eight forward transactions, whose size, according to the book "Le Joueur," caused suspicion.
If he did not do this, he would risk an exchange loss on some of his forward transactions.
"House purchase activity is likely to fall in the months ahead given the number of purchasers that brought forward transactions.
The standard needs strengthening, for instance by providing more timely data on foreign-exchange reserves and complete data on forward transactions by central banks.
There can also be forward transactions, consisting of contracts to exchange one currency for another at a future date, perhaps three months ahead, but at a rate determined now.
Forward transactions are not new compared to the current market mechanism.
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The first of these misleading derivatives -- the prepaid forward transaction -- was in 1992, you know.
A forward transaction: This allows the buyer to fix the exchange rate at today's rate for a completion date anything up to 12 months in advance.
Travelex: Callers to its Homebuyers phoneline on 0870-010-0095 (or visit www.travelex.co.uk) will be sent a pack on how to undertake a spot or forward transaction, which can be booked for 12 months in advance.
Forward transaction is used to coordinate investment decisions and manage risks.
Finally, and importantly, customers will also be able to purchase our PAYware mobile solution through our paywaremobile.comdirect sales site, which provide – which forwards transactions to one of five blue-chip processors.
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