The floating exchange rate has created a need for banks and their corporate customers to manage their currency exposure on an active and commercial basis. It has also opened up great opportunities for speculators to gamble on. Hedgers seek to remove or manage their currency risk. Speculators seek to take currency risk in the hope of making a profit. The advent of currency derivatives has raised the stakes and complicated the transactions in both cases. These are tough markets to master. "Mastering Foreign Exchange & Currency Options" will enable you to get your currency dealing right. It is the essential handbook for any player in the foreign exchange market. It addresses current practice and future issues and is written for both new entrants in to the markets and for seasoned professionals seeking to refresh or broaden their knowledge.Eight of the sixteen chapters are written by guest practitioners, providing a unique insight into their methods, and includes:* the background and developement of the foreign exchange and currency options markets* all aspects of hedging and trading, forex and currency options* how currency options and forex inter-relate* the mechanics of SPOT foreign exchange, forward foreign exchange and currency options* information to navigate you through the increasing amount of technology being introduced to foreign exchange trading* codes of conduct and market practice* technical analysis for trading* essential economics of the currency markets* traditional and exotic products* the role of the banker