I don't understand this product:
- https://www.m-x.ca/produits_options_devises_en.php
- https://www.m-x.ca/nego_cotes_en.php?symbol=USX*
I found it a few years ago when I was looking to hedge my CAD / USD currency exposure risk, but despite it having existed for 3+ years, it still has next to zero volume as far as I can tell >> nearly every expiry and price row shows 0 volume or open interest.
I'd have thought that there'd be plenty of actors looking to hedge CAD/USD exposure...are they simply using other instruments? Are there other more popular currency option products in Canada?
I found a recent press release announcing TD as the "first Canadian bank to fulfill the USX market-maker role"...wouldn't there have been MM's fulfilling this role prior?
TLDR: I wanted to use currency options to hedge my FX risk, and this product looks more or less like what I want, I just don't understand why it seems to be basically devoid of any action whatsoever...
- https://www.m-x.ca/produits_options_devises_en.php
- https://www.m-x.ca/nego_cotes_en.php?symbol=USX*
I found it a few years ago when I was looking to hedge my CAD / USD currency exposure risk, but despite it having existed for 3+ years, it still has next to zero volume as far as I can tell >> nearly every expiry and price row shows 0 volume or open interest.
I'd have thought that there'd be plenty of actors looking to hedge CAD/USD exposure...are they simply using other instruments? Are there other more popular currency option products in Canada?
I found a recent press release announcing TD as the "first Canadian bank to fulfill the USX market-maker role"...wouldn't there have been MM's fulfilling this role prior?
TLDR: I wanted to use currency options to hedge my FX risk, and this product looks more or less like what I want, I just don't understand why it seems to be basically devoid of any action whatsoever...