#866119

#866119: The payoff profiles for futures are similar to those for forward contracts, except that futures outcomes are a little … because of marking-to-market risk.

The payoff profiles for futures are similar to those for forward contracts, except that futures outcomes are a little … because of marking-to-market risk.
Варианты ответа:
  • Certain
  • Higher
  • Uncertain

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Тематика: Валютные операции во внешней торговле Ведение операций с иностранной валютой и чеками Внешнеторговые сделки
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Marking-to-market risk is the result of uncertainty in the path of the future’s contract value between purchase and sale and the volatility of … rates. Futures and forward exchange rates are linked by arbitrage. Currency options give buyers the right or opportunity, but not the obligation, to buy or sell foreign exchange at a pre-agreed exchange rate, the strike exchange rate. Call options give the buyer the right to purchase the foreign currency at the strike exchange rate, and put options give the buyer the right to sell the foreign currency at the strike exchange rate. American options allow the buyer to exercise after to the expiry of the option, while European options allow the buyer to exercise before the expiry date of the option. The value of an option depends on the extent to which it is in the money, that is, the extent to which the option has intrinsic value, and also on the volatility of the underlying exchange rate, the interest rate on the currency paid for the option, the forward exchange premium or discount and the length of time to expiration. The value of the option can also be considered to depend on the interest rate differential, which, like the forward premium or discount, reflects the expected path of the exchange rate.