n Without Prejudice - The view from down under

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Meltdown - the credit crisis strikes Oz : lifestyle

Abstract

Australia has been described as a country in the wrong place but at the right time. It's geographically isolated, but for financial markets what matters is its position in the 24-hour market clock. From this perspective Australia is almost perfectly placed to pick up the book from US based traders at the end of their day and pass it on to European traders at the start of theirs. So most major investment banks maintain a significant presence and active trading desks in the Australian market.