FUTURESANDOPTIONSMARKETS(跨国公司财务管理Jos .pptxVIP

Multinational Financial Management Alan Shapiro 7th EditionJ.Wiley SonsPower Points byJoseph F. Greco, Ph.D.California State University, FullertonCHAPTER 8CURRENCY FUTURES AND OPTIONS MARKETS CHAPTER OVERVIEWI. FUTURES CONTRACTSII. CURRENCY OPTIONSPART I.FUTURES CONTRACTSI. CURRENCY FUTURES A. Background 1. 1972: Chicago Mercantile Exchange opens International Monetary Market. (IMM) FUTURES CONTRACTS2. IMM provides a. an outlet for hedging currency risk with futures contracts. b. Definition of futures contracts: contracts written requiring a standard quantity of an available currency