The Canadian dollar accounts for only 2.2 per cent of
total foreign currency trade flow in a given day, according to the latest major trade volume report put out by the Bank for International Settlements, whereas the U.S. dollar comprises 45.1 per cent and the euro 19.4 per cent.
Other economic dimensions, notably the staggering levels of global finance (e.g.,
foreign currency exchange
totaling $ 1.5 trillion per day), dwarf even global
trade of products.
Among these requirements are the following: (i) at least 90 % of the fund's gross income each taxable year must be derived from dividends, interest, payments with respect to securities loans, and gains from the sale or other disposition of stock, securities or
foreign currencies, or other income derived with respect to its business of investing in such stock or securities or
currencies and net income derived from an interest in a qualified publicly
traded partnership; (ii) at the close of each quarter of the fund's taxable year, at least 50 % of the value of its
total assets must be represented by cash and cash items, U.S. Government securities, securities of other RICs and other securities, with such other securities limited, in respect of any one issuer, to an amount that does not exceed 5 % of the value of a Fund's assets and that does not represent more than 10 % of the outstanding voting securities of such issuer; and (iii) at the close of each quarter of the fund's taxable year, not more than 25 % of the value of its assets may be invested in securities (other than U.S. Government securities or the securities of other RICs) of any one issuer or of two or more issuers and which are engaged in the same, similar, or related
trades or businesses if the fund owns at least 20 % of the voting power of such issuers, or the securities of one or more qualified publicly
traded partnerships.