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The foreign exchange market (forex, FX, or currency market) is a global, worldwide-decentralized financial market for trading currencies. Commonly traded instruments include spot, forward, swaps, futures, and options. The FX market is the most liquid financial market in the world. There is no unified or centrally cleared market.

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spot rate at expiry. This requires a quanto adjustment due to the correlation between the payoff and the FX forward rates. These give different prices, because there's no quanto adjustment in the …
asked Nov 18 '18 by user90123801923809