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Suppose we observe the following quotes: Bid Ask Deustche USD/SFr 1.1099 1.1108 JP Morgan USD/NZD 0.6677 0.6689 HSBC SFr/NZD 0.5957 0.5967 Do we have an

Suppose we observe the following quotes:

Bid Ask
Deustche USD/SFr 1.1099 1.1108
JP Morgan USD/NZD 0.6677 0.6689
HSBC SFr/NZD 0.5957 0.5967

Do we have an arbitrage opportunity?

If so, starting with 15 mil SFr, how do we make profits and by how much?

Show your workings.

In your answer, keep 4 decimal places for exchange rate calculation.

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