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We ask that you read this letter because it sets forth our standard terms of spot FX dealing generally with our clients. (together with other market participants, “  HOW DO WE DEAL WITH AN ECONOMY WITHOUT FUTURE MARKET? There are less advanced markets where there is no future contracts, in such situation, we 

Dec 29, 2011 · Every quant knows the expression that defines a forward FX rate on date t with maturity T: where B_f is the foreign discount factor and B_d is the domestic discount factor. But what is the best way to explain this intuitively? Here is my suggestion. Let's pick an example pair, say EUR and CHF, and see…

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