David Cooney - Shortly after graduating from Law School in his native New Zealand, David moved to London to start an apprenticeship as a currency options trader at Chase Manhattan Bank. This was followed by roles at Credit Suisse First Boston and then Dresdner Bank, which saw him move to Singapore to take charge of the currency options operations for Asia before moving back to London as Dresdner’s Global Co-head of Currency Options.
 
Barclays Capital then approached him to head up their global Options desk, where he was instrumental in developing the award winning BARX platform.
 
His long-standing passion for e-FX trading and technology ultimately led to the launch of MahiFX, of which he is Co-Founder and CEO.
David Cooney
Shortly after graduating from Law School in his native New Zealand, David moved to London to start an apprenticeship as a currency options trader at Chase Manhattan Bank. This was followed by roles at Credit Suisse First Boston and then Dresdner Bank, which saw him move to Singapore to take charge of the currency options operations for Asia before moving back to London as Dresdner’s Global Co-head of Currency Options. Barclays Capital then approached him to head up their global Options desk, where he was instrumental in developing the award winning BARX platform. His long-standing passion for e-FX trading and technology ultimately led to the launch of MahiFX, of which he is Co-Founder and CEO.
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Don't expect too much from Bernanke – warns MahiFX CEO

The markets are in a mindset that a third round of quantitative easing from the US Federal Reserve is inevitable following a recent string of weak US economic numbers and monetary easing by other central banks around the world, according to David Cooney, CEO of Christchurch-based currency platform provider MahiFX.

Commenting ahead of the US Federal Reserve Chairman Ben Bernanke's testimony to the US Senate to be delivered over Tuesday and Wednesday, he said that though QE3 from the Fed seems likely within months, the best markets can probably hope for is that Bernanke will hint at it, such as expressing concern over the weakening US economy and global economic uncertainty and that the Fed is carefully monitoring such developments.

“If Bernanke disappoints the markets, it is likely to see a sell-off in risk assets and could see GBP and EUR trade lower against the USD as investors flee to safe haven assets such as US Treasuries,” said Cooney. “Ironically, if the mood in the markets turns particularly negative with big sell-offs in equity markets for instance, it could actually pressure the Fed to bring forward QE3 to restore confidence. Bernanke will no doubt be mindful not to trigger such an outcome,”

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