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Old 05.09.2011, 14:45
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Re: CHF=EUR parity. When will it happen?

This is surely one of the options and may be being considered by Swiss Authorities but there would be a lot of factors which would decide this, some of which are already mentioned here-

Due considerations of the Swiss quality of life, the taxation structure, overall economic climate in EU and the general state of economy in Swiss would be vital for any such parity decision... in my opinion.
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  #62  
Old 05.09.2011, 15:03
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Re: CHF=EUR parity. When will it happen?

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oanda.com

Start the sign up process now though, as it takes a few days to get account verifedi (eg. you have to send them scans of passport, bill with address..) then take a few days to fund your newly established accounts (via online banking from your swiss bank account).
thanks. sign-up process was very quick! now just need them to verify my ID etc. then ready to go!
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  #63  
Old 05.09.2011, 15:04
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Re: CHF=EUR parity. When will it happen?

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Yes, the difference is you get 1.13 rather than 1.15. You know exactly what you are getting because it is printed on your screen (you have that rate for 1 min then you have to refresh). You have to pay a transaction fee which is about 20 euro (small compared to the ~2% your bank will take, assuming you are transferring a large amount of money)
Sounds good. So a real world scenario - I have XXX CHF wanting to change to EUR. I create an account, which takes couple of days as mentioned. Do I need to pay something just for signup?
After all setup, I transfer money from PostFinance to oanda. How? Is it foreign transfer without fees or some other way? So I will have the same amount of XXX CHF at oanda account? And when time come and I do the transfer, they will charge 20 EUR + small fee (something like 0.02-0.1%, at least that's how I understood it on their site). so XXX substracted of these fees arrives to EUR account, right?
Please correct me if I misunderstood something.
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Old 05.09.2011, 15:23
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Re: CHF=EUR parity. When will it happen?

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Sounds good. So a real world scenario - I have XXX CHF wanting to change to EUR. I create an account, which takes couple of days as mentioned. Do I need to pay something just for signup?
After all setup, I transfer money from PostFinance to oanda. How? Is it foreign transfer without fees or some other way? So I will have the same amount of XXX CHF at oanda account? And when time come and I do the transfer, they will charge 20 EUR + small fee (something like 0.02-0.1%, at least that's how I understood it on their site). so XXX substracted of these fees arrives to EUR account, right?
Please correct me if I misunderstood something.
That's about right. Pay nothing to sign up.

My experience: I created an OANDA CHF account (online). I told them i intend to deposit 15000 francs into it. I made a payment from credit suisse for 15K. 14983 francs turned up 3 days later in my oanda account (I assume this was a charge i paid to credit suisse). I then make a conversion to Euro (free). Then i sent it back to my Credit suisse euro account (paid a 17.71 euro fee). At least i think that's how it worked. So total cost was about 30 euro in charges, or 30/15000 = 0.2%
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  #65  
Old 05.09.2011, 15:28
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Re: CHF=EUR parity. When will it happen?

interestingly, today i saw a leaked goldman report suggesting clients bet on EUR-CHF parity within the next 6 months (last slide):

http://www.scribd.com/doc/63818804/G...Of-the-Markets

i figure this month could be it with the italian debt rollover, we'll see soon enough...
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Old 05.09.2011, 15:36
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Re: CHF=EUR parity. When will it happen?

Excuse my ignorance, but i thought the Euro hit parity with CHF around 3-4 weeks ago, where it hovered for a couple of days.

Are we talking about some sort of long term or fixed parity here?
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  #67  
Old 05.09.2011, 15:41
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Re: CHF=EUR parity. When will it happen?

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interestingly, today i saw a leaked goldman report suggesting clients bet on EUR-CHF parity within the next 6 months (last slide):

http://www.scribd.com/doc/63818804/G...Of-the-Markets

i figure this month could be it with the italian debt rollover, we'll see soon enough...
It was dated August 16th they were close. 2 weeks is a long time, GS make money on tiny movements in exchange rates. They probably closed their position the day after.
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Old 05.09.2011, 15:45
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Re: CHF=EUR parity. When will it happen?

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It was dated August 16th they were close. 2 weeks is a long time, GS make money on tiny movements in exchange rates. They probably closed their position the day after.
true. their indicative trade said 1:1, which i understand was never reached, but i guess in practice, you would opt for a strike price a bit above that because of the psychological resistance at parity.
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Old 05.09.2011, 15:55
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Re: CHF=EUR parity. When will it happen?

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true. their indicative trade said 1:1, which i understand was never reached, but i guess in practice, you would opt for a strike price a bit above that because of the psychological resistance at parity.
If you tell your clients 1:1, you would get out a little earlier......
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