Fx algo
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The document discusses a currency trading algorithm that is applied to 45 different currency pairs using the euro as the base currency. It explains that using a broader set of currencies provides more investment opportunities. The strategy aims to allocate funds to each currency pair based on its volatility, with less volatile currencies receiving higher allocations. Testing the algorithm on different currency sets and asset classes helps verify its robustness.
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Financial arbitrage
Financial arbitrage involves taking advantage of temporary price differences between the same or similar financial assets traded in different markets. It allows investors to buy assets in a market where the price is low and immediately sell them in another market where the price is higher, thereby locking in a risk-free profit. Arbitrage is possible when the same asset trades at different prices in different markets, when an asset's future price is inconsistent with its present value, or when two identical assets trade at different prices. The practice of arbitrage tends to drive prices between markets to convergence.
Currency arbitrage
The document describes a mathematical model for currency arbitrage. Currency arbitrage involves simultaneously buying and selling currencies in different markets to profit from temporary price differences. The model seeks to maximize final dollar holdings by determining the optimal amounts to convert between US dollars, euros, British pounds, Japanese yen, and Kuwaiti dinars, given exchange rates and transaction limits. The model is formulated as a linear program to find the currency conversion amounts that maximize profits through arbitrage opportunities across multiple currencies.
INTERNATIONAL ARBITRAGE & INTEREST RATE PARITY
1) International arbitrage involves capitalizing on price discrepancies between currencies in different locations without taking on risk. Locational arbitrage occurs when a currency can be bought cheaper in one location and immediately sold at a higher price elsewhere.
2) Triangular arbitrage exploits temporary differences between cross-exchange rates of three currencies. Covered interest arbitrage takes advantage of interest rate differentials between countries while hedging against exchange rate risk.
3) Interest rate parity exists when the forward exchange rate offsets the interest rate advantage of one country over another, eliminating riskless profits from covered interest arbitrage. This equalizes returns between countries.
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[JP] The use of convertible bonds in the asset allocation process
NN Investment Partners provide an in-depth look at the use of convertible bonds in the asset allocation process, from December 2015.
[EN] The use of convertible bonds in the asset allocation process
NN Investment Partners provide an in-depth look at the use of convertible bonds in the asset allocation process, from December 2015.
[LU] Mindscope / The use of convertible bonds in the asset allocation process
NN Investment Partners provide an in-depth look at the use of convertible bonds in the asset allocation process, from December 2015.
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[UK] The use of convertible bonds in the asset allocation process
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[LATAM EN] Convertible bonds offer investors equity-like returns with a risk ...
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[JP] Convertible bonds offer investors equity-like returns with a risk profil...NN Investment Partners
NN Investment Partners explains how convertible bonds offer investors equity-like returns with a risk profile comparable to that of bonds, from November 2015.Guide sicav
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[CH] The use of convertible bonds in the asset allocation process
[CH] The use of convertible bonds in the asset allocation process
[JP] The use of convertible bonds in the asset allocation process
[JP] The use of convertible bonds in the asset allocation process
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[LATAM EN] The use of convertible bonds in the asset allocation process
[LATAM EN] The use of convertible bonds in the asset allocation process
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We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
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Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
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This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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Fx algo
- 1. 111111 A broader investment universe offers a wider opportunity set, so we apply our algorithm to 45 currency pairs, namely USD, GBP, YEN, CHF, AUD, NZD, CAD, NOK, SEK and of course EUR, which is our base currency. The same strategy can use different base currencies, and the only differences will arise from better or worse liquidity and higher or lower risk free rate. For example, should USD be the base currency we can expect better returns. Each pair has the same risk budget and its ‘‘weight’’ is, as the first step, an inverse function of its volatility. Fx proprietary systematic approach Investment Universe
- 2. 222222 Fx proprietary systematic approach We strongly believe systematic approaches applied to currency markets can still deliver interesting returns with low correlations to equity and bond markets, and as such, constitute an important component within multi-asset and multi-strategy absolute return portfolios. Results Data Source: Bloomberg; own elaboration
- 3. 333333 Robustness check To verify the robustness of our algorithm we can check its results by applying it to a different universe of currencies... Emerging currencies Data Source: Bloomberg; own elaboration
- 4. 444444 Robustness check ... or to a different asset class... US sectors - market neutral Data Source: Bloomberg; own elaboration
- 5. 555555 Robustness check ... and to another Commodity indexes Data Source: Bloomberg; own elaboration