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Freelance translator and/or interpreter, Verified site user
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Translation - Japanese Commissions Price War: A Warning to FX Brokers
Financial Services Agency is Concerned About Deteriorating Profitability
The Financial Services Agency has begun issuing warnings to foreign exchange (FX) brokers because of their view that spreads - the difference between the bid and ask prices - have been lowered excessively. Fearing the potential for deceptive advertising, in addition to concerns regarding deteriorating profitability caused by intense competition, supervisory guidelines will by revised. In serious cases, cease and desist orders can be issued.
FX brokers purchase currency, such as dollars, from foreign banks, and sell to clients after adding a fixed commission. For example, if 1US Dollar = 97.50 - 97.52Yen, it is purchased at 97.50, then sold at 97.52; the price difference of 0.02Yen is the spread. Currently, a "low spread war" is occurring among FX brokers where the broker, not the investor, bears the cost of the price difference which includes the commission.
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Experience
Years of experience: 8. Registered at ProZ.com: Jan 2009.
Adobe Acrobat, Microsoft Excel, Microsoft Word, Powerpoint, Wordfast
Bio
I am a biligual Japanese/English speaker, reader and writer living in Honolulu, Hawaii. My unique experiences growing up and working in both Japan and the United States adds value to the translation work I do.
Most of my professional career has been in the realm of finance. I have been, and currently remain, an investment officer for a regional financial institution in the United States. I was also an investment banking analyst in Tokyo for a major bulge bracket U.S. investment bank.
Throughout my career, I have translated many technical documents and marketing materials related to investment banking, real estate and general finance as part of my everyday job function.
Keywords: japanese, english, finance, economics, real estate, securities, stock, bond, investments, tax. See more.japanese, english, finance, economics, real estate, securities, stock, bond, investments, tax, japan, america, marketing, accounting, hawaii, proofreading, investment banking, localization, translate. See less.
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