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The Asian foreign exchange markets have experienced more than their fair share of ups and downs during the past 15 years. But the phenomenal growth of trade flows between Asia and the rest of the world, and more recently, within the region, has created a burgeoning market for hedging services. Toby Garrod reports

Asian currency markets have experienced rip-saw regulatory changes and vicious levels of volatility since foreign exchange derivatives first emerged in the region in the mid-1980s. But the over-arching trend of burgeoning international trade has kept demand for foreign exchange risk management services remarkably positive. Indeed, given the approximately 400% growth in regional trade since the
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