哪位大虾能帮忙找关于金融衍生品Financial Derivatives的外文翻译啊?

来源:百度知道 编辑:UC知道 时间:2024/06/07 20:21:52
跪求了~肯定有追加分~
外文字符最好满3000字,麻烦了~

Forward Contracts
A forward contract obligates one party to buy the underlying at a fi xed price at a certain future date (called the maturity) from a counterparty, who is obligated to sell the underlying at that fi xed price. Consider a U.S. exporter who expects to receive a €100 million payment for goods in six months. Suppose that the price of the euro is $1.20 today. If the euro were to fall by 10 percent over the next six months, the exporter would lose $12 million. But by selling euros forward, the exporter locks in the current forward exchange rate. If the forward rate is $1.18 (less than $1.20 because the market apparently expects the euro to depreciate a bit), the exporter is guaranteed to receive $118 million at maturity. Hedging consists of taking a fi nancial position to reduce exposure to a risk. In this example, the fi nancial position is a forward contract, the risk is depreciation of the euro, and the exposure is €100 million in six months, which is perfectly he