6 The Market for Currency Futures

Chapters in this book

1. Frontmatter i
2. Contents v
3. Preface xi
4. Acknowledgments xiv
5. I Introduction and Motivation for International Finance
6. 1 Why Does the Existence of Borders Matter for Finance? 1
7. 2 International Finance: Institutional Background 16
8. II Currency Markets
9. About This Part 65
10. 3 Spot Markets for Foreign Currency 69
11. 4 Understanding Forward Exchange Rates for Currency 115
12. 5 Using Forwards for International Financial Management 157
13. 6 The Market for Currency Futures 202
14. 7 Markets for Currency Swaps 239
15. 8 Currency Options (1): Concepts and Uses 262
16. 9 Currency Options (2): Hedging and Valuation 299
17. III Exchange Risk, Exposure, and Risk Management
18. About This Part 339
19. 10 Do We Know What Makes Forex Markets Tick? 342
20. 11 Do Forex Markets Themselves See What Is Coming? 398
21. 12 (When) Should a Firm Hedge Its Exchange Risk? 434
22. 13 Measuring Exposure to Exchange Rates 454
23. 14 Value-at-Risk: Quantifying Overall Net Market Risks 493
24. 15 Managing Credit Risk in International Trade 530
25. IV Long-Term International Funding and Direct Investment
26. About This Part 553
27. 16 International Fixed-Income Markets 558
28. 17 Segmentation and Integration in the World’s Stock Exchanges 595
29. 18 Why—or When—Should We Cross List Our Shares? 641
30. 19 Setting the Cost of International Capital 663
31. 20 International Taxation of Foreign Investments 703
32. 21 Putting It All Together: International Capital Budgeting 739
33. 22 Negotiating a Joint-Venture Contract: The NPV Perspective 777
34. Further Reading 801
35. References 803
36. Index 813