London FX Trading Rooms Get Smart Banks Seek Better Educated Traders
BANKS
"The traditional foreign exchange dealer is rapidly becoming a dinosaur." So says the treasurer of a major Continental bank in London in an acknowledgement of what many in this market admit is the trend: bank trading rooms are hiring fewer "school leavers"--people without higher education--and more traders with university degrees.
This development is due largely to the increasing influence of derivative instruments on the forex markets, say many observers. As these instruments proliferate and
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