The document discusses the special features of cross-rate options, particularly in relation to the Japanese yen and U.S. dollar. It highlights the significance of these options for investors converting profits or losses into U.S. dollars. The document explains the unit of trading, exercise price, and premiums for cross-rate options, using an example of yen-denominated options covering German marks.
documents/vol00010-efta01353436-pdf.pdf
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