GMS 724 Lecture Notes - Lecture 8: Eurocurrency, Credit Suisse, Bankers' Acceptance
Document Summary
Foreign exchange money denominated in currency of another nation or group of nations, market where they take place is the foreign exchange market. Exchange rate price of a currency, number of units of one currency that buys one unit of another currency. Bank for international settlement (bis), located in basel, switzerland, owned & controlled by 55 member central banks made 3 divisions: o. Reporting dealers money center banks (assume include deutsche bank, ubs, barclays capital, rbs, citi, jp. Morgan, hsbc, goldman sachs, credit suisse, ad bank of america: other financial institutions commercial banks, hedge funds, pension funds, money market, currency funds, non-financial institutions mutual funds, specialized foreign exchange trading companies. Trade to make profit (voice, directly with dealers or electronic) or provide foreign exchange services to clients. Electronic services, automated system where there is a great access to information and data (examples, bloomberg, reuters,