Foreign Exchange Derivatives: Forwards, Futures, Options, and Currency Swaps
Book: Financial Markets and Institutions, 11th Edition Author: Jeff Madura Publisher: Cengage Learning, 2015 ISBN: 978-1-133-94788-2
Chapter 16 is where things get global. If you have ever traveled abroad and exchanged dollars for euros or pesos, you already know the basics of the foreign exchange market. But there is a whole world of derivative instruments built on top of currency exchange rates. And they move serious money. Foreign exchange derivatives account for about half of all daily forex transaction volume.