Futures and forwards
•Download as PPT, PDF•
1 like•593 views
The document discusses futures and forward contracts. It defines them as derivatives whose prices are derived from underlying assets like commodities, currencies, or stocks. Forward contracts involve a private agreement between two parties to buy or sell an asset at a future date at a predetermined price, creating long or short positions. Future contracts are standardized, legally binding forward contracts that are traded on exchanges, allowing for liquidity and partial settlements before maturity. The document provides examples of long and short positions in forward contracts and differences between forward and futures contracts.
Report
Share
Report
Share
![Portfolio? ,[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recommended
Futures and forwards
The document discusses futures and forward contracts. It defines them as agreements between two parties where one party agrees to deliver an asset at a specified future date at a predetermined price. The key differences between futures and forwards are that futures contracts are traded on exchanges, standardized, and can be traded until maturity, while forwards are private agreements that are not standardized and typically held to delivery date. Futures allow for more liquidity and offsetting of positions compared to forwards.
Forwards and futures raju indukoori
This document discusses forwards, futures contracts, and margins in derivatives trading. It defines forwards and futures, comparing their key differences. Forwards are private contracts between two parties to buy or sell an asset at a future date, while futures are exchange-traded versions of these contracts that are standardized and require margin. The document also outlines the nature of futures contracts, their advantages and disadvantages, types, pricing, positions, payoffs, and how hedging with futures works. Finally, it describes the different types of margins used in futures trading like initial, special, delivery and daily margins to manage risk.
PB601 Investment Management
This document defines and compares futures contracts and forward contracts. A futures contract is a standardized agreement traded on an exchange to buy or sell an asset at a predetermined price and date. A forward contract is a private agreement between two parties for the purchase or sale of an asset at a specified future date. The document outlines the functions of hedging, speculating, and market making for futures and forward users. It provides examples of different types of futures contracts including commodities, equities, currencies, metals, and financial futures. The main differences between futures and forward contracts are that futures have no default risk, daily profit/loss settlement, and public trading, while forwards pose a default risk and profits/losses are realized at expiry through
Forward and Futures Contract
Derivatives are financial instruments whose value is derived from an underlying asset. Forward and futures contracts are types of derivatives that allow parties to lock in a price today to purchase or sell an asset in the future. A forward contract is a customized over-the-counter agreement between two parties, while a futures contract is traded on an exchange with standardized terms. Both require mark-to-market adjustments and margin payments to mitigate risks from price fluctuations until contract settlement.
hedging strategy
This document discusses various hedging strategies using futures contracts. It defines anticipatory hedging as using futures to lock in future prices for assets that will be bought or sold. Examples are given such as an airline hedging future jet fuel purchases. The document also discusses hedging portfolios using stock index futures to reduce portfolio beta risk. Key formulas are provided for calculating optimal hedge ratios and determining the number of futures contracts needed to hedge a given exposure or change a portfolio's beta.
Topic 8 Managing Risk
The document discusses various financial instruments for hedging risks like interest rate, exchange rate, commodity price and quantity volatility. It describes forwards, futures, swaps and options contracts, how they can be used to hedge different types of risks, and their similarities and differences in terms of credit risk, standardization and cash flows.
DIFFERENCE BETWEEN CASH MARKET AND DERIVATIVES MARKET
DIFFERENCE BETWEEN CASH MARKET AND DERIVATIVES MARKET.A cash market is a marketplace for the immediate settlement of transactions involving commodities and securities.
Futures hedging
This document discusses various hedging strategies using futures contracts. It describes long and short hedges to lock in future purchase or sale prices of assets. Arguments in favor of hedging include reducing risks from market variables, while arguments against include shareholders already being diversified and increased risk if competitors do not hedge. Examples illustrate how futures hedging works for both long and short hedges. The document also discusses cross hedging using different but correlated assets, calculating optimal hedge ratios, and hedging equity portfolios using stock index futures.
Recommended
Futures and forwards
The document discusses futures and forward contracts. It defines them as agreements between two parties where one party agrees to deliver an asset at a specified future date at a predetermined price. The key differences between futures and forwards are that futures contracts are traded on exchanges, standardized, and can be traded until maturity, while forwards are private agreements that are not standardized and typically held to delivery date. Futures allow for more liquidity and offsetting of positions compared to forwards.
Forwards and futures raju indukoori
This document discusses forwards, futures contracts, and margins in derivatives trading. It defines forwards and futures, comparing their key differences. Forwards are private contracts between two parties to buy or sell an asset at a future date, while futures are exchange-traded versions of these contracts that are standardized and require margin. The document also outlines the nature of futures contracts, their advantages and disadvantages, types, pricing, positions, payoffs, and how hedging with futures works. Finally, it describes the different types of margins used in futures trading like initial, special, delivery and daily margins to manage risk.
PB601 Investment Management
This document defines and compares futures contracts and forward contracts. A futures contract is a standardized agreement traded on an exchange to buy or sell an asset at a predetermined price and date. A forward contract is a private agreement between two parties for the purchase or sale of an asset at a specified future date. The document outlines the functions of hedging, speculating, and market making for futures and forward users. It provides examples of different types of futures contracts including commodities, equities, currencies, metals, and financial futures. The main differences between futures and forward contracts are that futures have no default risk, daily profit/loss settlement, and public trading, while forwards pose a default risk and profits/losses are realized at expiry through
Forward and Futures Contract
Derivatives are financial instruments whose value is derived from an underlying asset. Forward and futures contracts are types of derivatives that allow parties to lock in a price today to purchase or sell an asset in the future. A forward contract is a customized over-the-counter agreement between two parties, while a futures contract is traded on an exchange with standardized terms. Both require mark-to-market adjustments and margin payments to mitigate risks from price fluctuations until contract settlement.
hedging strategy
This document discusses various hedging strategies using futures contracts. It defines anticipatory hedging as using futures to lock in future prices for assets that will be bought or sold. Examples are given such as an airline hedging future jet fuel purchases. The document also discusses hedging portfolios using stock index futures to reduce portfolio beta risk. Key formulas are provided for calculating optimal hedge ratios and determining the number of futures contracts needed to hedge a given exposure or change a portfolio's beta.
Topic 8 Managing Risk
The document discusses various financial instruments for hedging risks like interest rate, exchange rate, commodity price and quantity volatility. It describes forwards, futures, swaps and options contracts, how they can be used to hedge different types of risks, and their similarities and differences in terms of credit risk, standardization and cash flows.
DIFFERENCE BETWEEN CASH MARKET AND DERIVATIVES MARKET
DIFFERENCE BETWEEN CASH MARKET AND DERIVATIVES MARKET.A cash market is a marketplace for the immediate settlement of transactions involving commodities and securities.
Futures hedging
This document discusses various hedging strategies using futures contracts. It describes long and short hedges to lock in future purchase or sale prices of assets. Arguments in favor of hedging include reducing risks from market variables, while arguments against include shareholders already being diversified and increased risk if competitors do not hedge. Examples illustrate how futures hedging works for both long and short hedges. The document also discusses cross hedging using different but correlated assets, calculating optimal hedge ratios, and hedging equity portfolios using stock index futures.
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...Corporate Professionals
Derivatives can be used effectively for risk management purposes such as hedging currency, commodity price, interest rate, and credit risks. Key points:
1) Derivatives like forwards, futures, options and swaps allow companies to hedge existing exposures to financial risks.
2) The right risk management techniques need to be used, as derivatives can reduce risks but improper use may increase risks.
3) Different derivative products are suited to different risk exposures. For example, currency risks are best hedged with forwards or options, while interest rate risks can be managed using interest rate swaps.Futures contract
Futures contracts are exchange-traded contracts that specify the quality, quantity, and delivery details of an underlying asset. They are settled daily based on changes in the spot price. Margins are deposited to minimize the risk of default. Key features of futures include daily settlement, offsetting trades to close positions before maturity, and delivery or cash settlement at expiration unless closed out earlier. Basis risk arises from uncertainty about the relationship between futures and spot prices when hedges are closed out.
Forward contracts
This document discusses forward contracts and prepaid forward contracts on stocks. It defines forward contracts and prepaid forward contracts, and describes three methods for pricing prepaid forward contracts: by analogy, by discounted present value, and by arbitrage. It also discusses how to price prepaid forwards when the underlying stock pays discrete or continuous dividends. The document explains that forward contracts allow fixing a future price without an upfront payment, and the forward price is the future value of the prepaid forward price discounted by the risk-free rate minus the dividend yield. Finally, it notes that while the forward price predicts the expected future spot price, it systematically underpredicts it due to the risk premium on the underlying stock.
Derivatives
Derivatives are financial instruments whose value is based on an underlying asset such as a stock, bond, commodity, or currency. There are three main types of derivatives: futures and forwards, which are contracts to buy or sell an asset on a future date; options, which give the owner the right but not obligation to buy or sell an asset; and swaps, which involve exchanging cash flows of one party's financial instrument for those of another party. Derivatives offer benefits like speculation, hedging risk, leverage, and flexibility, but also carry risks such as credit risk, potential for crimes, and impacting the leverage of an economy's debt.
Derivatives lecture3 & 4- futures
- Futures contracts call for delivery of an asset at a specified future date at an agreed price. The buyer takes a long position and commits to purchase the asset, while the seller takes a short position and commits to deliver the asset.
- Most futures contracts are settled financially rather than through physical delivery of the asset. They allow participants to hedge risk or speculate on price movements of underlying assets like commodities, financial instruments, and indexes.
- Basis risk arises from the uncertainty of the difference between the spot and futures price when closing out a hedge position. This can impact the effectiveness of hedges.
Forward
This document discusses various types of forward contracts and derivatives. It defines a forward contract as a customized bilateral contract to buy or sell an asset at a specific future price. Forward contracts involve counterparty risk but no cash flows up front. The document outlines how forward positions can be terminated and discusses compensation for dealers. It also provides examples of equity, bond, foreign exchange rate and interest rate forward contracts.
Financial Derivatives
This document provides an overview of financial derivatives, including:
- A derivative is a financial instrument whose value is derived from an underlying asset. Common types of derivatives include forwards, futures, options, and swaps.
- Derivatives can be traded over-the-counter (OTC) between two parties or on an exchange.
- In Pakistan, derivatives on financial assets trade on the Pakistan Stock Exchange, while commodity derivatives trade on the Pakistan Mercantile Exchange.
FX Forwards and Futures
A forward contract locks in an exchange rate for a currency transaction that will occur at a future date. Currency futures contracts are similar to forwards but are standardized and traded on an exchange, with the exchange clearinghouse assuming default risk rather than the contract counterparties. Swaps involve an initial spot transaction combined with a forward contract to reverse the spot transaction and lock in an exchange rate to convert the currency back to the original one at the end of the period.
Derivatives and option pricing theory
Derivatives are financial instruments whose value is based on an underlying asset such as stocks, commodities, currencies, or interest rates. There are several types of derivatives contracts including forwards, futures, options, and swaps. Derivatives are traded globally and provide benefits such as lower transaction costs, reduced risk, and enhanced liquidity. Key players in the derivatives markets include hedgers who seek to reduce risk, speculators who take on risk to profit from price changes, and arbitrageurs who exploit price differences. Options give the holder the right but not obligation to buy or sell the underlying asset at a specified price on or before expiration. Factors like volatility and time to expiration impact option pricing models.
Forward contract
This 3-sentence summary provides the key details about the document:
The document is a Product Disclosure Statement that describes forward exchange contracts (FECs) issued by Travelex. An FEC allows parties to fix exchange rates for currency exchanges that will occur on a future date. The document explains what an FEC is, how FECs work, the costs and benefits, risks involved, and Travelex's policies regarding FEC transactions.
Hedging
This document discusses hedging and hedge funds. It defines hedging as using tools like derivatives to reduce losses from negative events. It provides examples of common hedging instruments like forward contracts, futures contracts, and options. It then discusses the history of hedge funds, starting from Alfred Jones in the 1940s and important funds today like Goldman Sachs, Long Term Capital Management, Man Group, and Soros Fund Management. The document aims to explain hedging concepts and provide an overview of hedge funds.
INV3703: Chapter 4
An overview of Chance (2003) 'Analysis of derivatives for the CFA program' the INV3703 prescribed textbook.
Future markets and contracts
Derivatives are financial instruments whose value is based on an underlying asset. Common derivatives include futures, forwards, options, and swaps. Futures contracts establish an obligation to buy or sell an asset at a predetermined future date and price. Futures are traded on exchanges and involve daily cash settlement. Market participants use futures to hedge risk from price fluctuations or speculate on price movements.
Investment Banking
This document provides an introduction to financial derivatives. It defines derivatives as financial instruments whose price is dependent on an underlying asset. Common underlying assets include stocks, bonds, commodities, currencies, and interest rates. Derivatives allow parties to mitigate risks related to price movements of these assets. The document discusses various types of derivatives including forwards, futures, options, and swaps. It also covers key concepts like hedging strategies, margin requirements, and historic derivative-related failures like Barings Bank and Metallgesellschaft.
48898102 derivative-market-in-india-ppt
Derivatives are financial instruments whose prices are derived from underlying assets such as equities, loans, bonds, interest rates, and currencies. There are several types of derivatives including options, futures, and swaps. Options give the holder the right but not the obligation to buy or sell the underlying asset, while futures require settlement at expiration. Swaps involve an agreement between two parties to exchange cash flows over a period of time, such as an interest rate swap where one party pays a fixed interest rate and the other pays a floating rate.
Derivatives
Derivatives derive their value from underlying assets. There are various types including forwards, futures, options, and swaps. Forward contracts are bilateral agreements to buy or sell an asset in the future at predetermined terms. Futures are standardized forward contracts that are traded on an exchange. Options provide the right but not obligation to buy or sell an asset by a specified date. Swaps involve exchanging cash flows of underlying assets like interest rates or currencies. Derivatives allow participants to hedge or speculate on price movements of the underlying assets.
Derivatives
Derivatives are financial instruments whose value is based on an underlying asset. They include forwards, futures, options, and swaps. Forwards involve an agreement to buy or sell an asset at a set price on a future date. Futures are similar to forwards but trade on an exchange and are marked to market daily. Options give the right but not obligation to buy or sell an asset at a strike price. Swaps allow parties to exchange interest or currency payments over time to hedge risks. Common derivatives are mortgage-backed securities which pool home loans and student loan instruments. Derivatives make up the largest part of the total financial market.
Currency futures and forwards
The document discusses currency futures and forward contracts. It defines futures as agreements to buy or sell a specified amount of currency at a predetermined exchange rate in the future. Features include standardized contracts that trade on exchanges. Forwards are over-the-counter agreements with customized terms for non-standard delivery dates and amounts. The document outlines how corporations can use futures and forwards to hedge currency risk from future foreign currency cash flows.
Derivatives ppt @ mab finance
This document summarizes key concepts related to derivatives and risk management. It discusses forwards, futures, swaps, and options contracts. It explains how forwards, futures, and swaps work to transfer risk, while options provide choice. The cost-of-carry model for pricing forwards is described. Forward rate agreements are introduced as interest rate derivatives. Forward exchange rates are projected using interest rate parity.
Futures and options
Futures contracts obligate the buyer and seller to exchange an asset at a predetermined price on a future date. Options provide the buyer the right, but not obligation, to buy or sell the underlying asset at a predetermined strike price by a predetermined expiration date. The buyer pays a premium for this right. There are call and put options, where calls provide the right to buy and puts provide the right to sell. Options have limited downside risk for the buyer compared to futures contracts, but also have time decay as they approach expiration.
Futures & Forwards Contract Derivtives In A Nutshell
Futures and forwards contracts are types of derivatives that allow parties to lock in a price for an asset to be exchanged at a future date. A forward contract is a customized over-the-counter agreement between two parties, while a futures contract is standardized and traded on an exchange. Key differences are that futures contracts have daily margin settlements and lower counterparty risk. Derivatives are used by hedgers to manage risk, speculators to wager on price movements, market-makers to facilitate trading, and arbitrageurs to exploit temporary price differences across markets.
Chapter 02_Overview of the Financial System
This chapter provides an overview of the financial system, including the functions of financial markets and intermediaries in channeling funds from lenders to borrowers. It describes the structure of markets, such as debt versus equity, and primary versus secondary markets. It also discusses the internationalization of markets and the role of regulation in ensuring stability and transparency.
More Related Content
What's hot
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...Corporate Professionals
Derivatives can be used effectively for risk management purposes such as hedging currency, commodity price, interest rate, and credit risks. Key points:
1) Derivatives like forwards, futures, options and swaps allow companies to hedge existing exposures to financial risks.
2) The right risk management techniques need to be used, as derivatives can reduce risks but improper use may increase risks.
3) Different derivative products are suited to different risk exposures. For example, currency risks are best hedged with forwards or options, while interest rate risks can be managed using interest rate swaps.Futures contract
Futures contracts are exchange-traded contracts that specify the quality, quantity, and delivery details of an underlying asset. They are settled daily based on changes in the spot price. Margins are deposited to minimize the risk of default. Key features of futures include daily settlement, offsetting trades to close positions before maturity, and delivery or cash settlement at expiration unless closed out earlier. Basis risk arises from uncertainty about the relationship between futures and spot prices when hedges are closed out.
Forward contracts
This document discusses forward contracts and prepaid forward contracts on stocks. It defines forward contracts and prepaid forward contracts, and describes three methods for pricing prepaid forward contracts: by analogy, by discounted present value, and by arbitrage. It also discusses how to price prepaid forwards when the underlying stock pays discrete or continuous dividends. The document explains that forward contracts allow fixing a future price without an upfront payment, and the forward price is the future value of the prepaid forward price discounted by the risk-free rate minus the dividend yield. Finally, it notes that while the forward price predicts the expected future spot price, it systematically underpredicts it due to the risk premium on the underlying stock.
Derivatives
Derivatives are financial instruments whose value is based on an underlying asset such as a stock, bond, commodity, or currency. There are three main types of derivatives: futures and forwards, which are contracts to buy or sell an asset on a future date; options, which give the owner the right but not obligation to buy or sell an asset; and swaps, which involve exchanging cash flows of one party's financial instrument for those of another party. Derivatives offer benefits like speculation, hedging risk, leverage, and flexibility, but also carry risks such as credit risk, potential for crimes, and impacting the leverage of an economy's debt.
Derivatives lecture3 & 4- futures
- Futures contracts call for delivery of an asset at a specified future date at an agreed price. The buyer takes a long position and commits to purchase the asset, while the seller takes a short position and commits to deliver the asset.
- Most futures contracts are settled financially rather than through physical delivery of the asset. They allow participants to hedge risk or speculate on price movements of underlying assets like commodities, financial instruments, and indexes.
- Basis risk arises from the uncertainty of the difference between the spot and futures price when closing out a hedge position. This can impact the effectiveness of hedges.
Forward
This document discusses various types of forward contracts and derivatives. It defines a forward contract as a customized bilateral contract to buy or sell an asset at a specific future price. Forward contracts involve counterparty risk but no cash flows up front. The document outlines how forward positions can be terminated and discusses compensation for dealers. It also provides examples of equity, bond, foreign exchange rate and interest rate forward contracts.
Financial Derivatives
This document provides an overview of financial derivatives, including:
- A derivative is a financial instrument whose value is derived from an underlying asset. Common types of derivatives include forwards, futures, options, and swaps.
- Derivatives can be traded over-the-counter (OTC) between two parties or on an exchange.
- In Pakistan, derivatives on financial assets trade on the Pakistan Stock Exchange, while commodity derivatives trade on the Pakistan Mercantile Exchange.
FX Forwards and Futures
A forward contract locks in an exchange rate for a currency transaction that will occur at a future date. Currency futures contracts are similar to forwards but are standardized and traded on an exchange, with the exchange clearinghouse assuming default risk rather than the contract counterparties. Swaps involve an initial spot transaction combined with a forward contract to reverse the spot transaction and lock in an exchange rate to convert the currency back to the original one at the end of the period.
Derivatives and option pricing theory
Derivatives are financial instruments whose value is based on an underlying asset such as stocks, commodities, currencies, or interest rates. There are several types of derivatives contracts including forwards, futures, options, and swaps. Derivatives are traded globally and provide benefits such as lower transaction costs, reduced risk, and enhanced liquidity. Key players in the derivatives markets include hedgers who seek to reduce risk, speculators who take on risk to profit from price changes, and arbitrageurs who exploit price differences. Options give the holder the right but not obligation to buy or sell the underlying asset at a specified price on or before expiration. Factors like volatility and time to expiration impact option pricing models.
Forward contract
This 3-sentence summary provides the key details about the document:
The document is a Product Disclosure Statement that describes forward exchange contracts (FECs) issued by Travelex. An FEC allows parties to fix exchange rates for currency exchanges that will occur on a future date. The document explains what an FEC is, how FECs work, the costs and benefits, risks involved, and Travelex's policies regarding FEC transactions.
Hedging
This document discusses hedging and hedge funds. It defines hedging as using tools like derivatives to reduce losses from negative events. It provides examples of common hedging instruments like forward contracts, futures contracts, and options. It then discusses the history of hedge funds, starting from Alfred Jones in the 1940s and important funds today like Goldman Sachs, Long Term Capital Management, Man Group, and Soros Fund Management. The document aims to explain hedging concepts and provide an overview of hedge funds.
INV3703: Chapter 4
An overview of Chance (2003) 'Analysis of derivatives for the CFA program' the INV3703 prescribed textbook.
Future markets and contracts
Derivatives are financial instruments whose value is based on an underlying asset. Common derivatives include futures, forwards, options, and swaps. Futures contracts establish an obligation to buy or sell an asset at a predetermined future date and price. Futures are traded on exchanges and involve daily cash settlement. Market participants use futures to hedge risk from price fluctuations or speculate on price movements.
Investment Banking
This document provides an introduction to financial derivatives. It defines derivatives as financial instruments whose price is dependent on an underlying asset. Common underlying assets include stocks, bonds, commodities, currencies, and interest rates. Derivatives allow parties to mitigate risks related to price movements of these assets. The document discusses various types of derivatives including forwards, futures, options, and swaps. It also covers key concepts like hedging strategies, margin requirements, and historic derivative-related failures like Barings Bank and Metallgesellschaft.
48898102 derivative-market-in-india-ppt
Derivatives are financial instruments whose prices are derived from underlying assets such as equities, loans, bonds, interest rates, and currencies. There are several types of derivatives including options, futures, and swaps. Options give the holder the right but not the obligation to buy or sell the underlying asset, while futures require settlement at expiration. Swaps involve an agreement between two parties to exchange cash flows over a period of time, such as an interest rate swap where one party pays a fixed interest rate and the other pays a floating rate.
Derivatives
Derivatives derive their value from underlying assets. There are various types including forwards, futures, options, and swaps. Forward contracts are bilateral agreements to buy or sell an asset in the future at predetermined terms. Futures are standardized forward contracts that are traded on an exchange. Options provide the right but not obligation to buy or sell an asset by a specified date. Swaps involve exchanging cash flows of underlying assets like interest rates or currencies. Derivatives allow participants to hedge or speculate on price movements of the underlying assets.
Derivatives
Derivatives are financial instruments whose value is based on an underlying asset. They include forwards, futures, options, and swaps. Forwards involve an agreement to buy or sell an asset at a set price on a future date. Futures are similar to forwards but trade on an exchange and are marked to market daily. Options give the right but not obligation to buy or sell an asset at a strike price. Swaps allow parties to exchange interest or currency payments over time to hedge risks. Common derivatives are mortgage-backed securities which pool home loans and student loan instruments. Derivatives make up the largest part of the total financial market.
Currency futures and forwards
The document discusses currency futures and forward contracts. It defines futures as agreements to buy or sell a specified amount of currency at a predetermined exchange rate in the future. Features include standardized contracts that trade on exchanges. Forwards are over-the-counter agreements with customized terms for non-standard delivery dates and amounts. The document outlines how corporations can use futures and forwards to hedge currency risk from future foreign currency cash flows.
Derivatives ppt @ mab finance
This document summarizes key concepts related to derivatives and risk management. It discusses forwards, futures, swaps, and options contracts. It explains how forwards, futures, and swaps work to transfer risk, while options provide choice. The cost-of-carry model for pricing forwards is described. Forward rate agreements are introduced as interest rate derivatives. Forward exchange rates are projected using interest rate parity.
Futures and options
Futures contracts obligate the buyer and seller to exchange an asset at a predetermined price on a future date. Options provide the buyer the right, but not obligation, to buy or sell the underlying asset at a predetermined strike price by a predetermined expiration date. The buyer pays a premium for this right. There are call and put options, where calls provide the right to buy and puts provide the right to sell. Options have limited downside risk for the buyer compared to futures contracts, but also have time decay as they approach expiration.
What's hot (20)
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...
Risk Management Using Derivatives in Financial Planning Journal by Gaurav K B...
Viewers also liked
Futures & Forwards Contract Derivtives In A Nutshell
Futures and forwards contracts are types of derivatives that allow parties to lock in a price for an asset to be exchanged at a future date. A forward contract is a customized over-the-counter agreement between two parties, while a futures contract is standardized and traded on an exchange. Key differences are that futures contracts have daily margin settlements and lower counterparty risk. Derivatives are used by hedgers to manage risk, speculators to wager on price movements, market-makers to facilitate trading, and arbitrageurs to exploit temporary price differences across markets.
Chapter 02_Overview of the Financial System
This chapter provides an overview of the financial system, including the functions of financial markets and intermediaries in channeling funds from lenders to borrowers. It describes the structure of markets, such as debt versus equity, and primary versus secondary markets. It also discusses the internationalization of markets and the role of regulation in ensuring stability and transparency.
FINANCIAL SYSTEM AND ITS COMPONENTS
The document provides an overview of the Indian financial system. It discusses that the financial system includes financial intermediaries like banks, mutual funds, and insurance companies; financial markets like money markets, capital markets, and derivatives markets; and financial assets/instruments like equity, debt, and indirect securities. The financial system mobilizes savings from households and channels them to corporations and governments through these various institutions and markets, in order to facilitate capital formation and meet short and long-term financing needs.
Accounting Concepts & Conventions
1) The document discusses key accounting concepts and conventions. It defines 11 accounting concepts including business entity, money measurement, going concern, and historical cost.
2) It also explains 3 common accounting conventions: full disclosure, consistency, and conservatism. Conventions represent generally accepted practices adopted through agreement, while concepts provide a theoretical foundation.
3) The main difference between concepts and conventions is that concepts cannot involve personal bias and are not uniformly adopted, while conventions are uniformly adopted based on customs or legal guidelines.
Ppt on-money-market-1
The document provides an overview of the money market. It defines the money market as the market for short-term, highly liquid debt instruments with maturities of one year or less, such as treasury bills, commercial paper, and certificates of deposit. These instruments are traded by phone between financial institutions, corporations, brokers, and dealers. The money market helps facilitate short-term borrowing and lending for participants. It consists of various sub-markets that collectively make up this important segment of the financial system.
Accounting concepts and conventions
This document discusses key accounting concepts and conventions. It describes 12 major concepts: business entity, going concern, money measurement, accounting period, cost, dual aspect, realization, matching, materiality, full disclosure, conservatism, and consistency. It provides examples and explanations of how each concept is applied in accounting practices and financial reporting.
money market and capital market
The document discusses money markets and capital markets. It defines money markets as dealing with short-term lending of less than one year, such as treasury bills, commercial bills, certificates of deposit, and repurchase agreements. Capital markets deal with longer-term investments like bonds and equities. The capital market has a primary market for new stock issues and a secondary market for existing securities, like the stock exchange, which provides liquidity.
Viewers also liked (7)
Futures & Forwards Contract Derivtives In A Nutshell
Futures & Forwards Contract Derivtives In A Nutshell
Similar to Futures and forwards
Derivatives session lect i iv
The document provides an overview of derivatives, including what they are, how they have grown, and the main types. Derivatives derive their value from underlying assets and are used to hedge risk. They have grown with increased globalization and complex risk management needs. The main types discussed are forwards, futures, and options. Examples are given showing how companies can use derivatives like futures and options to hedge risks from interest rate, exchange rate, stock price, and commodity price fluctuations.
Derivatives session lect i iv
The document provides an overview of derivatives, including what they are, how they have grown, and the main types. Derivatives derive their value from underlying assets and are used to hedge risk. They have grown with increased globalization and complex risk management needs. The main types discussed are forwards, futures, and options. Examples are given showing how different entities can use derivatives to hedge price risks.
Derivatives markets ppt @ bec doms bagalkot mba
The document provides an overview of derivatives markets, focusing on futures, options, and swaps.
[1] Futures contracts allow parties to agree on delivery of an asset at a future date for a currently agreed upon price. They are traded on exchanges and involve standardized terms. Options contracts grant the buyer rights, but not obligations, related to an underlying asset. [2] Swaps involve an exchange of cash flows between two parties, such as one party paying fixed interest rates and receiving floating rates. They are customized agreements between counterparties. [3] These derivative contracts allow participants to hedge risks and speculate on price movements of underlying assets.
Financial Risk Mgt.pptx
This document provides an introduction to financial risk management and derivatives. It defines risk as potential financial loss due to unfavorable price movements. Derivatives like forwards, futures, options, and swaps are used to hedge different types of financial risks. Forwards are customized over-the-counter contracts to buy or sell an asset at a future date. Futures are standardized exchange-traded contracts. Options give the buyer the right, but not obligation, to buy or sell an asset. Swaps involve exchanging cash flows of different financial instruments at periodic intervals.
Guide to Financial Derivatives
The document provides an introduction to financial derivatives, including forwards, futures, options, and swaps. It defines each type of derivative and provides examples. Key points covered include:
- Derivatives derive their price from an underlying asset such as a commodity, currency, bond, or stock.
- Forwards and swaps are over-the-counter (OTC) contracts while futures and options trade on exchanges.
- Common uses of derivatives include hedging risk, speculation, and arbitrage.
- Margin requirements and daily settlement help manage counterparty risk in derivatives markets.
Financial Derivatives.pptx
Derivatives are financial instruments whose value is derived from an underlying asset. The three main types of derivatives are forwards, futures, and options. Forwards are customized contracts traded over-the-counter, while futures are standardized contracts traded on an exchange. Options give the holder the right but not obligation to buy or sell the underlying asset. Swaps involve exchanging cash flows of one party's financial instrument for those of another party. Derivatives allow parties to manage financial risks and speculate in the market.
treasury development:6 transactionexposure-111123030545-phpapp02
This document discusses foreign currency exposure and risk management for multinational companies. It defines transaction exposure as exposure from business transactions that are affected by currency movements, such as exports, imports, loans and investments. It notes that multinational companies inherently face exchange rate risk due to payments in foreign currencies. The document outlines different types of currency exposures including transaction, translation and economic exposures. It then discusses hedging strategies for transaction exposure risk including forward contracts, futures, options, currency invoicing and exposure netting to reduce risk from currency fluctuations.
DERIVATIVES UNIT 2.docx
- A forward market allows for the future delivery of stocks, currencies, or commodities at a predetermined price, protecting buyers and sellers from price fluctuations. Forward contracts are privately negotiated over-the-counter, while futures contracts are standardized and traded on an exchange.
- The main purposes of forward and futures markets are to hedge against risks from fluctuating prices and interest rates and to allow investors to speculate. These markets provide flexibility and reduce risks for financial companies and investors.
investment analysis and derivatives
Derivatives are financial instruments whose value is derived from an underlying asset. There are several types of derivatives:
1) Forward contracts are customized agreements between two parties to buy or sell an asset at a future date for a fixed price, exposing the parties to counterparty risk.
2) Futures contracts are similar to forwards but are exchange-traded, with standardized terms, eliminating counterparty risk.
3) Options contracts give the holder the right, but not the obligation, to buy or sell the underlying asset at a specified price on or before the expiration date.
4) Warrants and convertibles give holders the right to buy or convert into the underlying asset within a given time period.
Investment analysis and derivatives
Derivatives are financial instruments whose value is derived from an underlying asset. There are several types of derivatives:
1) Forward contracts are customized agreements between two parties to buy or sell an asset at a future date for a fixed price, exposing the parties to counterparty risk.
2) Futures contracts are similar to forwards but are exchange-traded, with standardized terms, eliminating counterparty risk.
3) Options contracts give the holder the right, but not the obligation, to buy or sell the underlying asset at a specified price on or before the expiration date.
4) Warrants and convertibles give holders the right to buy or convert into the underlying asset within a given time period.
Derivatives
The document discusses various types of derivatives instruments used to manage financial risk, including forwards, futures, options, and swaps. It provides examples of how these derivatives are used to hedge risks related to commodities, interest rates, currencies, equities, indexes, and other underlying assets. The key types of derivatives discussed are over-the-counter contracts and exchange-traded contracts, along with examples of each like forwards, futures, and options.
Derivatives
The emergence of the market for derivative products, most notably forwards, futures and options, can be traced back to the willingness of risk-averse economic agents to guard themselves against uncertainties arising out of fluctuations in asset prices
“A STUDY ON THE GROWTH OF DERIVATIVES MARKET IN INDIA”
This document provides an overview of derivatives markets in India. It defines different types of derivatives such as options, futures, forwards, and swaps. Futures contracts and forward contracts are described as agreements to buy or sell an asset at a future date and price, with the key difference being that futures contracts are standardized and exchange-traded, while forwards are customized over-the-counter contracts. The document discusses how these derivatives can be used for hedging, speculation, and gaining exposure to different asset classes or markets.
Derivatives
This document provides an introduction and overview of derivatives, including their history, types, and uses. It discusses futures, forwards, and options contracts. Futures are exchange-traded standardized contracts that require daily margin payments and settlement. Forwards are over-the-counter customized contracts that involve credit risk. Options provide the right but not obligation to buy or sell an underlying asset at a specified price on or before expiration. The document defines call and put options and explores factors that influence option pricing.
forward and future contract
A forward contract is a customized agreement between two parties to buy or sell an asset at a predetermined future date and price, with no upfront payment required. It is used primarily for hedging and has counterparty risk.
A futures contract is a standardized agreement traded on a futures exchange to buy or sell an underlying asset at a predetermined future date and price, with an initial margin payment required. It is used more for speculation and has low counterparty risk due to clearing house guarantees.
The key differences are that forward contracts are customized over-the-counter agreements while futures contracts are standardized exchange-traded agreements, with futures requiring an initial margin and having a clearing house to reduce counterparty risk.
Derivative markets - introduction
This document provides an overview of the derivative market. It defines derivatives and discusses their origins and functions, including hedging risk, speculating, and arbitrage. The main types of markets and derivative products are described, including forwards and futures, options, warrants, swaps, and contracts for differences. Trends in over-the-counter derivative markets are presented, such as the dominance of forex derivatives and increasing regulations. The document concludes that derivatives play a key role in financial markets globally and their use is expected to continue growing.
What is the Meaning of Financial Derivatives
Financial derivatives are financial instruments linked to an underlying asset or indicator. Derivatives allow parties to trade financial risks independently from owning the underlying asset. There are several types of derivatives, including futures, forwards, options, and swaps. Futures are standardized forward contracts traded on an exchange. Options give the holder the right but not obligation to buy or sell the underlying asset. Swaps involve exchanging cash flows between two parties over time based on a notional principal amount. Derivatives are used by hedgers, speculators, and arbitrageurs to manage risk, seek profit, and exploit pricing discrepancies.
Financial derivatives
Derivatives are financial instruments whose value is based on an underlying asset such as commodities, interest rates, indices, or share prices. They are used to manage risk exposure in volatile markets through hedging and speculation. The main players in derivatives markets are hedgers who seek to reduce risk, arbitrageurs who profit from pricing discrepancies, and speculators who take positions based on their expectations of future price movements. Common types of derivatives include swaps, options, futures, and forwards, which allow parties to take long or short positions on assets.
Exotic Options Products & Applications
This document provides an introduction and table of contents to a project report on exotic options and their products and applications. It discusses forward contracts and vanilla options such as calls and puts in chapter 2. Chapter 3 covers exotic options including lookback options, compound options, binary options, barrier options, and mountain range options like Atlas and Himalayan options. The document aims to explain how these derivatives work and their benefits and drawbacks for investors seeking to hedge risks, speculate, or arbitrage pricing inefficiencies.
Similar to Futures and forwards (20)
treasury development:6 transactionexposure-111123030545-phpapp02
treasury development:6 transactionexposure-111123030545-phpapp02
“A STUDY ON THE GROWTH OF DERIVATIVES MARKET IN INDIA”
“A STUDY ON THE GROWTH OF DERIVATIVES MARKET IN INDIA”
Financial markets an introduction.A forward contract for which the under lyin...
Financial markets an introduction.A forward contract for which the under lyin...
More from Thamarai Selvi
Role of advertising
The document provides an overview of key concepts related to the role of advertising in marketing. It discusses topics like the marketing process, marketing mix strategies, segmentation, targeting and positioning, branding, and the concept of added value. The marketing mix strategies section specifically focuses on the 4Ps of product, price, place (distribution), and promotion, including advertising. It emphasizes that the goal of advertising planning is to achieve the advertising objectives through an appropriate allocation of resources.
Types of advertising
1. The document discusses different types of advertising such as product advertising, institutional advertising, and services advertising.
2. It also discusses factors that advertising may be based on like demand, target groups, and geographical spread.
3. Pioneering advertising is defined as advertising to launch an entirely new product category in order to inform consumers and explain benefits, with examples given of early Walkman and iPad campaigns.
Types of advertising
The document discusses different types of advertising including product, institutional, and services advertising. It also discusses advertising based on demand, target group, geographical spread, and timing of response. Specifically, it outlines the stages of a product life cycle and the appropriate advertising approach - informative for new products, persuasive to develop brand demand during growth, and reminder-oriented during maturity and decline. It provides an example of Parle focusing early ads on their product rather than brand due to lower competition.
Terms used n forex
1. Terms used in foreign exchange include repo/ready forwards, currency risk, country risk, tariffs, ad valorem and specific duties, balance of payments, and exchange rates.
2. The international monetary system involves the conversion of currencies and transfer of funds across nations for international trade, financial asset transactions, and credit creation and repayment.
3. Integration and transmission effects have increased in financial markets due to technology, inflation/interest rates, new instruments, and deregulation, allowing funds to be raised and invested globally.
Mutual fund
The mutual fund industry in India has grown significantly since reforms began in the 1990s. Originally a state-run monopoly, the industry is now made up of 33 companies managing over Rs. 567,601 billion in assets as of 2008. Mutual funds pool the savings of individual investors and invest in capital markets and money markets according to the investment objectives of each fund. Key entities involved include the sponsor, trustees, asset management company, custodian, and depository. Trustees are responsible for protecting investor interests and overseeing fund operations.
Communication
This document discusses various aspects of communication including its definition, purpose, types, processes, and importance. Some key points covered are:
- Communication is the sharing of information between individuals through various channels. Its purposes include expressing oneself, building relationships, and informing others.
- Types of communication include verbal, non-verbal, formal, informal, interpersonal, intrapersonal, and mass communication. Verbal communication includes speaking and writing while non-verbal includes body language, gestures, and facial expressions.
- The communication process involves a sender encoding a message, sending it through a channel, potential noise interfering, a receiver decoding the message, and feedback. Effective communication requires sending clear messages and correctly understanding responses.
Sebi
- SEBI was established in 1988 as a non-statutory body and later given statutory powers through the SEBI Act of 1992 to regulate and develop the securities market.
- Its primary objectives are to protect investors and ensure orderly and fair growth of the capital markets. Some of its key functions include regulating stock exchanges, registration of intermediaries, prohibiting unfair trade practices, and promoting investor education.
- It has the power to oversee stock exchanges, call for information and returns, inspect exchanges, and make regulations for listings. SEBI receives funding from the central government and fees collected.
Credt rating
Credit ratings are issued by credit rating agencies and represent their opinion on the likelihood that a debtor will default on their debt obligations. The ratings are determined after evaluating factors such as the issuer's financial history and strength of assets. Common credit ratings use letter or number symbols to convey the agency's assessment of default risk, from AAA/Aaa (highest safety) to D (already in default). Credit ratings provide investors with an independent evaluation of risk to help inform their investment decisions.
Life insurance
The document discusses the key concepts and principles of life insurance. It covers the nature of life insurance as a long-term contract that provides financial protection to beneficiaries in the event of death. It also discusses the various types of life insurance policies based on duration, premium payments, participation in profits, number of lives covered, and payment of claims. Finally, it outlines some important aspects like assignment and nomination procedures, surrender and loan values, age and death proofs, and payment of claims.
Barriers to communication
There are many potential barriers to effective communication. Meaning is interpreted differently by each individual based on their own experiences and perspectives. Symbols and words may not convey exactly the same meaning between parties. Physical barriers like noise, distance, and information overload can interfere with communication. Cultural differences between communicators also present barriers, as symbols like gestures may have different or even opposing meanings across cultures. Psychological, semantic, and organizational barriers like attitudes, language differences, and rigid hierarchies can also negatively impact communication. Overcoming these barriers requires skills like listening effectively, choosing appropriate channels, and creating an open environment for sharing information.
More from Thamarai Selvi (10)
Recently uploaded
2. Elemental Economics - Mineral demand.pdf
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Who Is Abhay Bhutada, MD of Poonawalla Fincorp
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic Data
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
how to sell pi coins effectively (from 50 - 100k pi)
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the what'sapp number.
+12349014282
This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...lamluanvan.net Viết thuê luận văn
Luận Văn Group hỗ trợ viết luận văn thạc sĩ,chuyên đề,khóa luận tốt nghiệp, báo cáo thực tập, Assignment, Essay
Zalo/Sdt 0967 538 624/ 0886 091 915 Website:lamluanvan.net
Tham gia nhóm hỗ trợ viết bài fb: https://www.facebook.com/groups/285625754522599?locale=vi_VN5 Tips for Creating Standard Financial Reports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
快速制作美国迈阿密大学牛津分校毕业证文凭证书英文原版一模一样
原版一模一样【微信：741003700 】【美国迈阿密大学牛津分校毕业证文凭证书】【微信：741003700 】学位证，留信认证（真实可查，永久存档）offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原海外各大学 Bachelor Diploma degree, Master Degree Diploma
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
An Overview of the Prosocial dHEDGE Vault works
How the prosocial dHEDGE earns you money while saving the world!
can I really make money with pi network.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth CapitalTax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR
Lecture slide titled Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria - Prof Oyedokun.pptx一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
UCSB毕业证文凭证书【微信95270640】办理圣芭芭拉分校毕业证成绩单（Q微信95270640）毕业证学历认证OFFER专卖国外文凭学历学位证书办理澳洲文凭|澳洲毕业证,澳洲学历认证,澳洲成绩单 澳洲offer,教育部学历认证及使馆认证永久可查 ,国外毕业证|国外学历认证,国外学历文凭证书 UCSB毕业证，UCSB毕业证，UCSB毕业证，UCSB毕业证，UCSB毕业证，UCSB毕业证，UCSB毕业证，专业为留学生办理毕业证、成绩单、使馆留学回国人员证明、教育部学历学位认证、录取通知书、Offer、
【实体公司】办圣芭芭拉分校圣芭芭拉分校毕业证成绩单学历认证学位证文凭认证办留信网认证办留服认证办教育部认证（网上可查实体公司专业可靠）
— — — 留学归国服务中心 — — -
【主营项目】
一.圣芭芭拉分校毕业证成绩单使馆认证教育部认证成绩单等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
国外毕业证学位证成绩单办理流程：
1客户提供圣芭芭拉分校圣芭芭拉分校毕业证成绩单办理信息：姓名生日专业学位毕业时间等（如信息不确定可以咨询顾问：我们有专业老师帮你查询）；
2开始安排制作毕业证成绩单电子图；
3毕业证成绩单电子版做好以后发送给您确认；
4毕业证成绩单电子版您确认信息无误之后安排制作成品；
5成品做好拍照或者视频给您确认；
6快递给客户（国内顺丰国外DHLUPS等快读邮寄）。
专业服务请勿犹豫联系我！本公司是留学创业和海归创业者们的桥梁。一次办理终生受用一步到位高效服务。详情请在线咨询办理,欢迎有诚意办理的客户咨询!洽谈。
招聘代理：本公司诚聘英国加拿大澳洲新西兰美国法国德国新加坡各地代理人员如果你有业余时间有兴趣就请联系我们咨询顾问：+微信:95270640田里逡巡一番抱起一只硕大的西瓜用石刀劈开抑或用拳头砸开每人抱起一大块就啃啃得满嘴满脸猴屁股般的红艳大家一个劲地指着对方吃吃地笑瓜裂得古怪奇形怪状却丝毫不影响瓜味甜丝丝的满嘴生津遍地都是瓜横七竖八的活像掷满了一地的大石块摘走二三只爷爷是断然发现不了的即便发现爷爷也不恼反而教山娃辨认孰熟孰嫩孰甜孰淡名义上是护瓜往往在瓜棚里坐上一刻饱吃一顿后山娃就领着阿黑漫山遍野地跑阿黑是一条黑色的大猎狗挺机灵的是山室
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
where can I find a legit pi merchant online
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the what'sapp contact of my personal pi merchant to trade with
+12349014282
Recently uploaded (20)
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic Data
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic Data
how to sell pi coins effectively (from 50 - 100k pi)
how to sell pi coins effectively (from 50 - 100k pi)
This assessment plan proposal is to outline a structured approach to evaluati...
This assessment plan proposal is to outline a structured approach to evaluati...
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...
G20 summit held in India. Proper presentation for G20 summit
G20 summit held in India. Proper presentation for G20 summit
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf