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About us

About us

As early as 1979, it was clear to us. There was no point in analyzing the American economy with a small team from the Netherlands when the Fed itself employed thousands of PhDs for that purpose. The same applied to the stock, bond, and currency markets. Could we predict them better than the tens of thousands of professionals at Goldman Sachs, JP Morgan, Merrill Lynch, Deutsche, and so on? Certainly not. So how could we assist decision-makers in the corporate and asset management sectors in forming their views on financial markets?

The answer was actually quite simple: ensure they don't miss anything essential and provide them with a clear analysis of the most likely medium-term scenarios, weighing all the pros, cons and different views in a balanced manner. Don't experiment with homemade models, but base firm conclusions on what the best brains in the business put forward. This is precisely what we continue to do every day. No heavy academic papers, but rather, in plain English, everything you need to know. We condense over 100 sources of top research into just 20 minutes of reading time per week for our readers!

Our Team

Edward Markus

Founder & Chief Economist

Arian Ververs

Managing Director

Maria Thorvardardottir

Sales Director

Maarten Spek

Global Macro & Investment Strategist

Andy Langenkamp

Senior Political Analyst

Henk-Jan Pijper

Financial Markets Analyst



Written analysis please

The company starts as an independent FX advisor to the larger importing and exporting companies in the Netherlands. Some clients request a written analysis of the world economy and financial markets. Eddy Markus takes on the challenge and writes his first 5000 word report (by hand!). Our secretary types it out and sends it by regular mail to a select group of clients


More languages

Eddy finds his calling and writes his report every week now. The world economy becomes more and more complex, and many businesses rely on our findings. We translate the reports into English and German and go international. This helps us to reach the 800 subscriber mark quickly. After regular mail, fax service and distribution by e-mail, we launch our first website


Analyst team expands

With extremely low interest rates and limited currency fluctuations during QE, companies show less interest, but investment managers are increasingly engaged. We expand our analyst team and successfully develop various new publications for financial professionals. The first central banks subscribe to our services


ECR grows

Businesses return, and ECR evolves into a rapidly growing independent research provider serving both the corporate and financial industry. In this world of information overload our unique approach continue to add value for over 35 central banks, large multinational corporations, and numerous large and small investment managers!

Our services


Research subscriptions

Our research platform is conveniently grouped into 2 research areas: Macro & Markers and Asset Allocation. Between the 2 areas you will find 11 publications and a number of tools, to match your specific needs. Our flagship reports are available in three languages: English, German, and Dutch. All reports can be subscribed individually and we have multiple packages available, designed to cater to your specific needs.

White Label Services

The responsibilities of a professional managing money often involve providing private clients with timely and clear market outlooks and reviews. Additionally, there's a need to prepare charts and market information for internal meetings, such as those with the investment committee. Creating these reports and materials can be time-consuming and divert your attention from your primary tasks. This is where ECR's white label solutions can be incredibly beneficial. They offer a cost-effective and efficient way to save time and resources. These solutions are delivered in a manner that allows easy customization to match your market perspectives and branding. Our reports and tools are designed with clear presentation, easily understandable language, and a non-technical approach, making them an ideal starting point for your needs.

Portfolio Management Services

We offer specialized consulting services to our Investment Management clients, starting with our Model Portfolio Scan. When you are investing in over 20 diverse mutual funds and ETFs, understanding where returns are generated or potentially missed can be challenging. For example, do you have precise insights into the geographical and sector allocation of your combined equity funds? And is the duration of your bond portfolio fully aligned with the benchmark or your investment objectives? Our Model Portfolio Scan provides a thorough analysis of your multi-asset mutual fund portfolio, aiming to reveal new insights. The scan assesses portfolio-wide indicators, including PE ratio, dividend yield, and ESG factors. 

Furthermore, it includes performance attribution, shedding light on how portfolio performance was achieved. Commonly utilized for portfolio adjustments, the scan can incorporate 'what-if' scenarios for specific funds. Questions regarding the suitability of holdings, alternative funds, or adjustments in fund allocation will then be effectively addressed. The Model Portfolio Scan empowers you to comprehend the key drivers of your portfolio returns and can be enriched with regular updates, making it an invaluable tool for professional investors optimizing multi-asset portfolios. 

Hedging Advisory Services

Our expert team, with more than 40 years of accumulated knowledge, is on stand-by to offer a full-range of debt and treasury advisory services to our corporate clients. We advise on FX and interest rate hedging transactions on a daily basis, making us the primary consultant for leading companies and institutions. Visit to find out more or get in touch and discuss your situation and needs, of course with no commitment on your end. We can help you in selecting the best possible hedging solution and negotiating the best possible pricing for you with your bank(s), resulting in massive cost savings on your FX and interest rate transactions. We would enjoy the opportunity to illustrate the benefits of having us on your side. 


Global Politics - analysis & consultancy on request

Biweekly publication & consultancy  

In today‚Äôs complex, volatile and interconnected business and investing climate, decision-makers often struggle to effectively sift through the volumes of data about (geo)political, financial and economic risks. With our Global Political Analysis we filter out the noise and help you understand the political risks on the horizon. For clients in need of customized analysis, monitoring, scenarios and forecasts, we offer various consultancy services and write analyses on request. Feel free to contact me to discuss the options. 

Our clients & cases

We supported a luxury bedding company with production facilities in the Philippines by providing an analysis of the national political situation and the potential impact of rising protectionism and geopolitical tensions within the Asian region. 

A veterinary pharmaceutical company asked us for an assessment of the political-economic developments in Egypt and the likelihood of (further) capital controls and the consequences for the Egyptian pound. We also offered our insights into the political situation in Poland and the relations between Brussels and Warsaw.

For a corporate client in the business of digital learning tools, we presented an overview of the critical political risks for the world economy in the coming quarters, with a special focus on the chances of Trump becoming president again and the potential implications for EUR/USD.