FX Week

Prebon Yamane in emerging FX first

The Egyptian currency was freely floated for the first time in late January (FX Week, February 3). "Although the amount brokered was a relatively small $1.6 million, we are delighted to be at the forefront of this emerging currency," says Steve Bright, director of non-deliverable forwards (NDF) at Prebon. Prebon has pioneered an NDF service in this market, the firm said.

Meanwhile, the firm also brokered a three-month forward contract in the Slovakian currency worth e2 million -- the first

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