Currency Futures

Brendan Brown and Charles R. Geisst

Chapter 2 in Financial Futures Markets, 1983, pp 31-68 from Palgrave Macmillan

Abstract: Abstract When Chicago’s International Monetary Market (IMM) launched currency futures trading in 1972, forward exchange markets had already been in existence for a century.1 Many of the ‘grey beards’ in the well-established forward market regarded the new entry with some scorn. How could this new currency market, which shared a floor with the pork belly and soyabean pits, situated in the depths of the mid-West, hope to compete with the highly liquid conventional market?

Keywords: Real Interest Rate; Future Market; Forward Market; Clearing House; Deutsche Mark (search for similar items in EconPapers)
Date: 1983
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DOI: 10.1007/978-1-349-17217-7_2

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