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Global Derivatives Markets

In: The Economics of Foreign Exchange and Global Finance

Author

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  • Peijie Wang

    (University of Hull, Business School)

Abstract

Before the proliferation of financial derivatives, foreign exchange forwards might be the only derivative instrument active in the foreign exchange market. The pair of the spot foreign exchange and the forward foreign exchange has established or led to some fundamental, significant and seemingly straightforward doctrines, such as covered interest rate parity (CIRP). Over the decade, however, various financial derivative instruments have emerged and been transacted in the foreign exchange markets in enormous volumes. In contrast to foreign exchange forwards, the working of these newly emerged derivatives seem to be technical, trivial, and on the face of it, sophisticated. The widespread use of derivatives makes the market more complete and competitive on the one hand, and creates vast and complicated new financial management tasks and techniques on the other hand.

Suggested Citation

  • Peijie Wang, 2009. "Global Derivatives Markets," Springer Books, in: The Economics of Foreign Exchange and Global Finance, chapter 11, pages 1-30, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-00100-0_11
    DOI: 10.1007/978-3-642-00100-0_11
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    Cited by:

    1. Veliota Drakopoulou, 2018. "Are the Recent Restatements of Financial Institutions 10K’s due to the Perceived Earning Volatility Caused by SFAS 161?," Accounting and Finance Research, Sciedu Press, vol. 7(4), pages 122-122, November.

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