"I can put this dollar in your bank, but you can't let me lose money on interest.In addition, the funds can be authorized for interbank lending, but cannot be used for other purposes. ”Xiao Bai is naturally an expert in this area, he bargained with Zhang Hongya, and Jiang Yifan had a headache when he heard it.Because there are some details that he simply can't understand.Fortunately, Xiao Bai and Zhang Hongya quickly reached an agreement, so Jiang Yifan did not have to continue to suffer this kind of torture.Subsequently, Xiao Bai signed an agreement with Ayutthaya Bank on behalf of Heung Kong Yingsheng Investment Company.The terms of the agreement are complicated, and everyone is more cautious about financial matters.But to sum it up, it's the spread!
Interest rate differentials are the foundation of banks, such as deposit and loan differentials, interest rate differentials in various countries, and so on.With interest rate spreads, banks are profitable.If there is no interest rate differential between the deposit and loan interest rates, then the bank will definitely not make money.Xiao Bai left the US dollar in the bank and borrowed Thai baht, leaving a 2.2 interest rate difference for the bank.These two points are the bank's profits, and they are also the costs that Xiao Bai needs to bear.To be honest, Xiao Bai is still quite generous.Jiang Yifan noticed that from the beginning of signing the agreement, the smile on Zhang Hongya's face became much more sincere.Xiao Bai then made a phone call to Jiang Youwei: "Mr.
Jiang, bring that dollar over." ”After the $564974411 million arrived, Zhang Hongya immediately released the money to the Thai baht account of Xiangjiang Yingsheng Investment Company."
Xiao Dong, the baht has arrived, a total of 135.6 billion baht."
At present, the exchange rate of the US dollar against the Thai baht fluctuates slightly around 24, which is a very small percentage.After the money arrived, Cui Mingda took the receipt and showed it to Xiao Bai."
Well, Mingda, we're going to leave two people here to keep an eye on.In this way, I asked Jiang Dong to help me rent a commercial and residential apartment in the financial district today, and I want better conditions. ”Xiao Bai thought that the people who stayed here would need to stay for a long time, so it was necessary to rent a commercial apartment.In addition to keeping an eye on the changes in Thailand, the people who stay here also need to communicate with the bank frequently.Of course, they don't have any authority to operate without authorization.While the two were talking, Jiang Yifan just came out of the house."
Jiang Dong, you came just in time.I want to rent a commercial apartment near the financial district, do you have an acquaintance to introduce me?
”"Renting?
That's fine.You wait a minute, I'll call now. ”Jiang Yifan has been operating in Bangkok for many years, and there are still ways in this regard.Not long after, he finished the phone call and said with a smile: "Xiao Dong, my friend happens to be in a commercial and residential building in the center of Bangkok, and he currently has a vacant house there, do you want to take a look?"
”"Okay, I'm going to the bank anyway."
Xiao Bai nodded, and then left the manor with a group of people following Jiang Yifan.When they arrived in the city, Qin and Han Weiguo followed Jiang Yifan to see the house, and Xiao Bai and Cui Mingda came to the bank.The two went directly to the VIP lounge, and the account manager received them very warmly."
Hello gentlemen!
How can I help you?
”The account manager smiled sweetly and spoke standard English."
I'm going to make a deal on the international foreign exchange market."
Xiao Bai's purpose was to do this, but in fact, he never planned to attack the Thai baht personally.But holding such a large amount of Thai baht in his hand and not moving, there is naturally a loss.Therefore, Xiao Bai intends to make a forward trade in the yen."
Yes, sir, please come with me."
The account manager was not surprised, and personally took Xiao Bai and Cui Mingda to handle the business.Xiao Bai's trading here is quite troublesome, first of all, he has to open a foreign exchange trading account.Then I sold the baht in my hand and bought all the dollars."
Brother Xiao, today's Thai baht exchange rate has risen slightly, and our average transaction price including fees is 239511, and we bought a total of 56.9 billion US dollars."
Because the amount of funds is relatively large, I tossed back and forth, and after deducting various expenses, I had a floating profit of about 3 million US dollars.Cui Mingda was very happy, it just so happened that there were no outsiders at this time, and he still called Xiao Bai according to his habit at school."
Well, let's do a forward trade for the yen, this time I don't plan to increase leverage, if it doesn't work, let's do a real trade."
If you trade with high leverage, you will either get rich or die on the streets.Xiao Bai is no longer the same person he used to be, he could add 100 times the leverage to block the pound back then, and if he missed, he could give up the margin.Now he has a large enough amount of money, if he does not increase the leverage, even if the horse stumbles, he will suffer some losses at most, but he will not be completely wiped out.For example, according to the calculation of 100 times leverage, Xiao Bai only needs to invest $50 million to leverage the transaction volume of $5 billion.However, if the underlying has a reverse fluctuation of 1, then this margin will be lost.There won't be even a bit of scum left.And with more than $500 million in his hand, he can only bear a maximum of 10 reverse fluctuation losses if he adds 100 times leverage.The stakes are enormous.Moreover, the leverage also pays the trader interest on the funds, and the interest is also a very large expense.It's okay if the time is short, but this time Xiao Bai plans to do a 180-day forward transaction, and the factor of capital cost must be considered."
Brother Xiao, I calculated, if we want to control the risk, then the leverage cannot exceed 10 times."
Cui Mingda quickly calculated that if he invested $200 million in margin, he could enlarge the transaction volume to $2 billion.If it moves against 10, the margin will be completely lost.At present, Yingsheng Investment still has more than 300 million US dollars in its account, plus the 56.9 billion US dollars in its hand, which is about 900 million US dollars.If you make a margin call, you can withstand exchange rate fluctuations of more than 45.At present, there is a demand for depreciation of the yen, and it is absolutely impossible to reverse the appreciation of 4 or 5 percent within half a year.Therefore, Cui Mingda's suggestion is more appropriate."
It's not worth it, old Cui.It is better to use $400 million in funds and 5 times the leverage, which is more appropriate. ”In fact, the reason is almost the same, Xiao Bai now has 900 million US dollars in cash in his hands, and adding leverage to make a transaction volume of 2 billion US dollars is actually equivalent to adding more than 2 times the leverage.The more own funds you invest, the less the capital occupation fee on the broker's side.Xiao Bai roughly took an intermediate value.After the two discussed, they decided to make this deal in Ed Futures.In any case, there are no foreign exchange controls in Thailand, and funds can flow freely.So Xiao Bai asked Cui Mingda to transfer the $56.9 billion to Xiangjiang Ed Futures Company.Yingsheng Investment already has a fund account of Ed Futures, which is more convenient to do foreign exchange forward transactions in Xiangjiang."
Xiao Dong, then I'll rush back immediately.I have informed the people from the Investment and Financing Department and they will be able to arrive in Bangkok shortly. ”Back at the manor, Jiang Yifan, Qin and others had already returned, and they said that the lease contract had been signed for the commercial and residential apartments.Cui Mingda was in a hurry, and flew back to Xiangjiang on the same day.Xiao Bai was not in a hurry to go back, he then followed Jiang Yifan to visit the other party's factory in Thailand, and also made some field trips to the local economic situation.Three days later.Xiao Bai returned to Xiangjiang with Qin and others, and there were two employees of the investment and financing department left behind in Bangkok, who would keep an eye on the economic situation in Thailand."
Xiao Dong, the yen trend has been a bit back and forth in the past few days.The current exchange rate of the US dollar \\ yen is 1062719, can we act?
”After returning to Xiangjiang, Xiao Bai didn't care about resting and came to Ed Futures.Cui Mingda handed the sorted data to Xiao Bai, according to the mathematical model research, there is a high probability that the dollar will appreciate and the yen will depreciate in the future."
Let's open a position at this price."
Xiao Bai no longer hesitates, doing foreign exchange is actually a trend, and there is no way to find the highs and lows very accurately.As a result, Cui Mingda and others bought 20,000 standard lots of USD\\JPY forward contracts at this price 1062719 for 180 days.With 5x leverage, a total margin of $400 million was paid."
Xiao Dong, go to my place for a cup of coffee?"
After finishing the operation, Xiao Bai was sitting in the house with Cui Mingda chatting, and Tang Ziyan appeared at the door at the right time."
Mr.
Tang, long time no see!
Mingda, you and they keep an eye on it, I'll go first. ”Xiao Bai was just about to go back to rest, when he saw Tang Ziyan, he gave Cui Mingda an explanation, and then got up and came to her office."
Xiao Dong is doing foreign exchange trading this time?"
Tang Ziyan asked people to bring two cups of coffee, sat down and chatted with Xiao Bai."
Well, I owe money to the bank now, and I need to do some arbitrage operations, otherwise the interest will crush me."
Xiao Bai made a joke, then picked up the cup and took a sip.Good coffee!"
Look at what you said!
By the way, Mr.
Lin said that day that he wanted to find time to have a meal with you.Will you stay in Xiangjiang for the next two days?
Why don't we get together tomorrow night?
”"Tomorrow?
Okay, you can call me in advance when the time comes. ”Lin Jiadong has never been Xiao Bai's friend, and if it comes to personal relationships, it is not even as good as the relationship between Tang Ziyan and Xiao Bai.However, since the other party has already stood on Xiao Bai's side, he can be regarded as his own person for the time being, so Xiao Bai still gave the other party a face.After sitting here for more than half an hour, Xiao Bai got up and said goodbye.After returning home, he called Liu Xiaoling and Tian Chunxiu separately, and then fell asleep and slept until the next morning.Eating with Lin Jiadong and Tang Ziyan in the evening, in fact, there is nothing else.Everyone sits together just to talk casually, more just to deepen the relationship.Xiao Bai has no major events on the Xiangjiang side for the time being, and the affairs of Thailand and foreign exchange forward transactions are staring at Cui Mingda and the people from the Investment and Financing Department, so there is no need for him to spend time here.After resting for two days, he returned to the deep city.