Saxo Bank released a series of forward outrights on 115 crosses on Friday last week. With this addition, the company provides a trading environment which may well cater toward the more conservative trader who wishes to hedge exposure to interest rate risk. In terms of functionality, it is a forward contract, rather than a spot transaction, upon which a value date in the future is selected by the trader, who then receives swap points and is fully aware of both components of the deal before the order is placed. Should the trader wish to close the FX rate risk before the forward outright's value date, the trade can be ... (full story)