Trade Recording (Forex trade recording)
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For all foreign exchange transactions that should be as automated as possible, procedure must be in place to provide a clear and fully documented audit trail. The audit trail should provide information about the counter-party, currency, price, trade date, and value of each transaction. An accurate audit trail significantly improves accountability and documentation and reduces instances of questionable transactions that remain undetected or improperly recorded. More about foreign exchange
Trades should be recorded by the trader in a timely manner. A delay in recording a trade could disrupt processing, including the communication of transaction information between counter-parties and could result in inaccurate account records, mismanagement of market risk, and misdirected or failed settlement.
Therefore, all trades should be booked immediately after a transaction is entered into the system and accounting records should be updated as soon as possible. This allows a real-time assessment of the current portfolio positions and the risks involved. More about forex trade
Useful Information about forex trading
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Fundamental Analysis On Forex Trading
