Retail e-FX Client : Regional Retail FX perpectives on Central & Eastern Europe

First Published in e-Forex Magazine January 2010

Larry Levy

The CEE generally refers to the group of "Central and Eastern European" countries, formerly called the Eastern Bloc during the Cold War. These include Albania, Bosnia and Herzegovinia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Macedonia, Montenegro, Poland, Romania, Slovakia, Slovenia, Serbia and, though it was never in the communist Eastern Block as such, Turkey. Recently, eForex interviewed Karol Piovarcsy, head of the newly opened Saxo Bank branch office in Prague, and Vladimir Kisyov, Head of Business Development at Deltastock in Sofia, Bulgaria about the growth and prospects from their perspectives for FX in this region.

Local Presence

Saxo Bank is clearly looking to take advantage of newly created wealth and disposable income in the CEE region, and it's obvious that having a local office enhances business development in that country and surrounding countries. Deltastock, with its head office in a CEE country (Bulgaria) looks naturally to business in the region and now also elsewhere, having also opened offices in Romania, Spain and the United Kingdom.

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