International Financial Markets and Econometrics

This report covers topics such as exchange rate volatility, risk in international transactions, currency options, and financial econometrics investigation of the London Stock Exchange. It also includes subject, course code, and college/university information.

International Financial Markets
And Econometrics

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
QUESTION 1..................................................................................................................................3
(a). Causes of exchanges rate volatility in the foreign exchange market....................................3
(b) Exchange rate volatility impact international trade and financial data..................................4
QUESTION 2..................................................................................................................................6
Nature of risk in international transactions..................................................................................6
Advantage of currency option against future contracts...............................................................7
Disadvantages of the currency option against the future contracts.............................................8
QUESTION 3..................................................................................................................................9
Financial econometrics investigation of the London Stock Exchange........................................9
The implications of your empirical investigation for the financial markets..............................11
QUESTION 4................................................................................................................................13
International money markets have impacted international capital markets and stock prices....13
CONCLUSION..............................................................................................................................15
REFERENCES................................................................................................................................1

INTRODUCTION
International financial market is the place where the financial wealth and traded between
their individuals and many other countries can be done. While having such things this could also
come to know about how usually they can deal with many things and make sure for having their
high effective things in capital and market. It can be also widely seems that some of the rules and
institutions where are the assets that could take place and supports more agents and surplus.
While this could be directly lay down with having their proper trading and make sure for having
their more effective rules and regulation in agreements among various countries. This report will
explain about spot exchange rate that could causes the volatility in the foreign exchange rate.
Along with this international trade impacted over the exchange rate. While also examined about
the potential risk that could effective the international transaction and international trade.
Critically examined about the currency option with future and forwards contracts in hedging net
payables. Moreover, financial econometrics methods and evaluating more about the share prices
index and implication of empirical investigation for the financial market. Furthermore, at last
interest rate policy and QE via through international marketing impacted capital market and
stock prices.
MAIN BODY
QUESTION 1
(a). Causes of exchanges rate volatility in the foreign exchange market
Exchange rate volatility is unexpected movement in the exchanges rates and volatile
exchange rates creates international trade decision more difficult because volatility increases the
exchange rate risk ad it impacts on the potential of money (Bahmani‐Oskooee and Harvey,
2021). Diversification in government funds constantly impacts on the exchange rate volatility
and currency exchanges rate increase the diversification and variation in business expansion at
international level.
Exchange rate defined as a which on county converted into the another country, export in
different country highly influence the currency exchange process. Import can reduce the
country's economy and export can generate higher profitably and develop stability and increase
currency value as well. Sending and receiving money internationally is knows as determine
exchange rates.

On the basis of recent trend multiple people focus on expand their business activity in
different place, But expansion of business in foreign market face so many challenges, and
currency prices changes highly influence the business expansion. Multiple factors influence the
foreign exchanges rates are as follows,
Inflation rate
Variations in market product rate and changes in inflation rate cause influence the
currency exchanges rate. Lower inflation rate improves the quality of good and services sales in
market. And higher inflation rate impact and influence the product sales. So its important that
country manage their inflation rate for services in the foreign exchanges market.
Term of trade
A county's effective trade policy can improve the export policy but diversification in
trade policy highly influence the product selling. And it directly impacts on the country's revenue
as well. Export can generate higher revenue and increase the currency's value but product export
in the UK countries amount should higher than other so its major cause for foreign exchange
market.
Political stability and performance
Country's political situation and economic performance directly impact on currency
power. Less currency rate improves the potential of foreign investor. But variation in political
legal rules influence the financial position of company and it gives uncertainty in exchanges rate.
Increase foreign capital lead the value of domestic currency, it is higher cause for the foreign
exchange market.
Interest rates
Variations in interest rate influence the currency rate and higher interest rate is cause for
the country exchange rate (Dada, Olomola and Adedokun, 2021). Higher interest rate people not
expand their business in foreign because of their higher interest rate of landers, machinery,
production machinery and many more. It influences the business expansion in other country, so
increase in interest rate is also major cause for foreign exchange market.
(b) Exchange rate volatility impact international trade and financial data
Exchange rate develop risk on transaction cost and it influences the internation trade.
Interneuronal trade influences by the multiple factor and it directly affects the country's
economy, so its essential country focuses on the management of international trade changes like

when they provide their services. Country's economy affects from the multiple issues but the
product transportation cost highly influence and transportation affects from the multiple issues.
UK country has great export sense also they provide multiple product on various counties so
their currency value will automatically increase. Exchanges rate should be on higher cost and
when they import services they set effective policy like define fix rate cost of product Exchange
rate volatility influencing the activity of exporting behaviour, financial values of firms and many
more.
Increase transaction cost
Exchanges rate volatility highly influence international product trade cost, variation in
currency rate influence the prices of transportation cost so its essential that country manage their
production on the basis of currency price analysis for transportation cost management (Diniz-
Maganini, Rasheed and Sheng, 2021). Higher influence on transportation prices decrease the
economy of the country because on the basis of exchanges rate totally depends on the other
country's import policy.
Impact on country's economic growth
Country's currency prices highly influence by the import policy. Expansion of business in
foreign country expand their economy wealth and improve currency rates. The major impact is
the product transportation because very individual place has different product cost price and tax
price for product. Government policies highly impacts international trade so management of
government policy require stability and effective price of currency.
Reduce gains from diversification in trade policy
Higher transportation charges influence by the exchange rate volatility it increases the
diversification and its will negative impact on company's profit. Mos of the countries believes in
transportation of product because it beneficial for the improvement of economy growth and
other country has not power to expand the same product business expansion, so it develops
export and import between tow country (Wang, Li and Wu, 2021). But the major essential thing
that country produce multiple product and focuses on export this will improve the economy
growth of the country with effective manner. Other country higher economy directly influence
the transaction cost as well.
Exchange rate is essential for macroeconomic factor, it highly influences from the
international trade, development of international trade require multiple aspect analysis because

multiple aspect affects the countries economy and economic condition affects the trade policy
and peepers diversification in currency price (Živkov, Kuzman and Andrejević-Panić, 2021).
Measurement of exchange rate volatility risk factor define and explain as a four step methods
every step shows that how transportation cost will influence the production cost and how country
can manage their effective exchange rate with nominal cost. Measurement of volatility require
two measure factors that monthly exchange rate diversification changes into the yearly basis and
month percentage. GDP is clearly shows the country's economic condition so analysis of this rate
people can understand that they capable and expansion of business in other country gives
benefits or not.
Financial data with the utilization of particular graph can effective knows about how
company's influence from the multiple task and how it improves the quality of performance with
the knowledge of last year transportation. It clearly gives direction that which product
transportation cost useful for the currency value improvement.
QUESTION 2
Nature of risk in international transactions
There are some risk which can be faced by the trader during their international
transactions which are commercial risk of the international market, trade risk, political risk,
currency risk etc. commercial risk can be seen in the market area of the country as it is generally
caused by poor information about the domestic market, poor adaptability of the product
according to the foreign market laws (Mateut, 2018). Commercial risk effect more international
market if any changes or modification required it is difficult to cope up. Competitive

environment also create risk as they pressurize the supply chain demand of raw materials in the
market. Therefore, for the trader it is difficult for them to negotiate the price of raw material with
suppliers. Exchange rate also develop a threat for the trader as their native currency and foreign
currency are different which impacts the price awareness. If the traders native currency is
devalued than there is enhancement of their strength in new market. Political risk is also the
biggest problem for the trader when they are trying to trade in international market as every
country has their different laws and policy which can be also caused the trade barriers also
changing in policy can also bring disadvantages for the traders (Huy, Dat and Anh, 2020).
Credit risk also a threat for the traders to deal with international market. Credit risk
means as buyer unable to pay the credit on due date which could be the loss for the lenders.
Therefore, this risk is more seen in international market as compared to the international market.
Derivatives the financial tool which means that it is derived from other form of asset that can be
foreign exchange. Traders can use this to mitigate all the risk occur in their international
transactions. Derivative can also be understood as a contractual assessment between two
business parties in which one party has to oblige the sales regulation and other party has the right
to buy or sale. Both the parties can make the agreement so that their sales and productivity does
not affect. Or this risks can be mitigated by the proper research analysis of the international
market so that it give the proper idea to the trader according to this they can prepare themselves
for the international market transaction.
Advantage of currency option against future contracts
Currency option is the derivative agreement which gives the right to the company for sale
and trading but it does not give obligation to the firm that they must have to fulfil the agreement.
It gives the advantage to the company as if they agreed on currency option derivative then they
are not forced or obliged to follow the agreement. Future contract is also a derivative which
comes with the obligation as if two parties agreed on future derivative then they must have to
follow the contract (Brito and Jacinto, 2020). Future contract give the right to the company to
sell or buy product in a specific future decided date, they can't disagree to this agreement which
can be seen as a violation of the contract therefore it can cause legal problem for the company.
Option derivative are of two type which is call option and put option.
Call option:

Call option derivate gives the agreement between the companies Through which companies have
the right to choose or buy the asset at a fixed rate but also they have option to follow the contract
or not according to their business needs and requirements.
Put option:
Put option gives the agreement between the companies through which they can buy or sell the
asset at a future date with a fixed price which they have decided during their agreement.
Currency option are the best way for the companies as it provide the cheapest option for
trade which can save the money for the company. If company is buyer than the risk occur which
can be limited or less because they have a right to change their decision as compared to future
contracts they consist of risk as in this agreement buyer must have to oblige the agreement even
if the price varies. Therefore, company has to go with the currency option rather than the future
contracts.
Disadvantages of the currency option against the future contracts
Future contracts derivative has many advantage over the currency option. Future
contracts are the better option for the risk taker traders as it gives or open up the maximum
opportunities for the trader. It gives the access to the market to the trader for that they were not
allowed to but along with future contracts it enables them to invest on those market as well to
increase their revenues (Wystup, 2021). It gives the high liquidity which means that firms can
easily achieve their finance goals whereas currency option has low liquidity so that in which
company might get face the bankruptcy. As for the future contract the margin is low means cost
does not change over the years and traders have access on their invested money. But in the case
of currency option there is a high margin so that investor has to pay big price in the agreement.
Option derivative can give the disadvantage to the company as it gives the wastage of asset if
company agree on option and pay the high margin of the asset and if they refuse to oblige the
contract than it is the waste of time for them whereas in future contracts does not waste the time
of trader. For the future contracts the pricing remains the same which is easy to understand but in
the case of currency option which include inputs number which is hardly understandable to the
trader (Sokolov, 2018). therefore, companies has to choose future contracts for the better market
opportunities for their company which can give advantage to increase their revenues as
compared to currency option which does not give many opportunities as it is limited and trader
can any time discontinue their agreement.

QUESTION 3
Financial econometrics investigation of the London Stock Exchange
According to Asiedu and et.al., (2020), this have been seems that LSE market that could
play the effective role for being taking the high estimation. Along with this also include those
activities which could make London prides about destination for having the rights about
international companies and bring out more investors. While for having such things this play
their important for becoming together and power for developing the world economy. In such
things this might play their roles for keeping high products and services designed for keeping
the company growth with more powerful ambitious. This could also keep them with foreign
exchange rate and make their business for working with more proper things.
As per Fűrész and Rappai (2020) views that, for centuries the financial econometrics that
could play the effective role and make sure for keeping their working estimation. In such things
this could also led them for working with more success and through business economics cycles
amidst things about the great changes and that could create the challenges London Stock
Exchange has supported businesses by connecting them with capital. It always try to give the
financial capital and that could also developed their business for taking high measure. Global
trading that could also required for keeping the London for standing about the world open market
and make their high position.
Chirwa and Odhiambo (2020) said that, London stock exchange that could play their
effective role and make their supportive for working while by offering the high investors. While
sometime this could also play their effective role and make sure for overlapping their market
places and support more large things. This could also include the international concepts and
access to some of the fastest growth rate markets through London. Financial econometrics that
could overlapping more 27 markets and keep their condition for working in globally and keeping
high range of solution. In working with international market this could keep their order booked
about how the investor access for some growing market things.
According to Oanh and et.al., (2021), financial econometrics that could play the
important role for growth and development for which the sources and that could keep their
effective role. 75% revenues that could be important for any organization in working with many
more things and make sure about their places for which the assets that could managed. 2000+
issues that could create the international operating things and that could help them for knowing

about their places. This might be taken their effective things and keep their attention towards
high system. London stock exchanges that could required for knowing about their business and
many other managed work.
In contrast with Hohlwegler (2021), this have been also seems that general ways for
keeping and working with many more things which could create them with high customer. While
for keeping the London stock exchanges market for which the international trade capital and
market could easily keep their supportive. The index about the average value and that could be
calculated while by using those various methods and make sure about their following for the
high system. This helps more about their observing for more about how they can easily work and
managed their system for taking some of the measure steps.
Maci, Pacelli and D’Apolito (2020) views that, the stock market works through a high
network marketing and developed those high scheme and make sure about their system.
Investors purchase their high shares and try to keep their more investor through which many
system and keeping their sources for working with many new things. While by purchasing and
also allow the companies for knowing about how usually they can work and managed their
shares in market. The prices that could be easily set up with having the high growth and also
manage their working system with many other concepts. While having such things this could
also led them for taking their high value and try to buy more high shares.
Haydar and Reilimo (2020) said that, many of the investors have taken their places and
that could keep their working estimation that could 45% of shares. While this could keep them
for working with sources and growth about those activities which could make their working
policies. Physical factors and physiology factor that could be easily come to know about how
they can keep their share buying with many other process. In managing more about the firms are
required to have many high shares and amended about those activities which could be more high
important for them. 75% growth and 87% of shares are depending with financial econometrics
which could play the estimation about how they can maintain the companies economy.
As there are many companies in LSE such as coffee house, royal exchange, first rule
book and so on. Financial econometrics could keep their disorder towards those activities and
make sure about those process which could keep out some of the theme in buying out many
shares. Foreign and regional exchanges that could took balance and that could effectively work
with more policies and make sure about those further managed without keeping their

performance (Lee, 2021). Consequently, both of Manchester and Liverpool stock exchanges
about their exchange system and managed their work within their activities benefited from the
economics.
The implications of your empirical investigation for the financial markets.
At the point when individuals talk about market efficiency, they alluding how much total
choices of market member exactly mirror worth of public organizations and their normal offers
blue on schedule. This requires decide an organization inherent worth and continually refreshing
those valuations as new data become known. The quicker and more exact the marketplace can
value protections, the more productive supposed that could included those activities which could
maintainable for the financial market (Wamba, Queiroz and Trinchera, 2020). The Efficient
market Hypothesis is observational matter likewise tried as regards a particular data set.
Subsequently, examination that could be easily explore authentically how rapidly Greek
securities swap respond to determined data sets. Given some data set actually from low to high
frequencies and the other way around to examine if Greek securities switch over can be
described as an Efficient one.
The Stock market is an establishment of imposing interest general inhabitants and of
significance to financial specialists. The Securities exchange is control instruments addressing
cases of possession to ventures of modern, financial furthermore, running character. These cases
are seen by highly impacted and proprietors as capital which are variable into cash which thus
obtainable for their buy. The universes stock markets are spots which proffer liquidity capacity
to the proprietors resources and add constant and grave assurance of costs. In a general sense an
Efficient Stock Market is basically types of market in which firms can settle on creation course
of action choices and financial backers can pick amongst the protections that address blame for
exercises. a connection between securities swap movement and betting has been called
concentration to regularly in Finance writing (Rommerskirchen, 2020). It has been called
attention that card shark estimates by setting up a stake round of possibility and that financial
sponsor in the Stock market acts more or then again less likewise. There is an leaning to view
theory as undesirable monetary group, as though it were remote from the monetary behaviour.
Monetary exercises however, theoretical since they are totally deterministic.
Turning approximately to financial exchange efficacy the proficient market conjecture
infers an unusual sort of proficiency which is informational Efficiency. The Information

usefulness sort of output when costs, reflect completely and hastily, hypothetically immediately,
every snippet of data concerning the exchange protections. In this way, the stock costs at time, to
respond just to applicable data savoured at time it which agreeing the supposition hidden the
Efficient Market Hypothesis that could led with having the easy for everybody (Bakas, Kostis
and Petrakis, 2020). These theorists don't put together their exchange methodology with respect
to any explicit data set and they cannot be measured as proof against the capable Market
Hypothesis. The truth of the matter is that live in a deterministic world there are just levels of
susceptibility.
The hypothesis of the Efficient Markets has long effective things and that might be
basically important for the creating the high effective things. A few scientists who have found
value conduct unique in family member to what Effective Market Hypothesis infers and planned
elective speculation to clarify these deviations. On top of that banter Chaos guess says that value
changes are consequence of complicated without delay powerful models (Liebi, 2020). At first
look value changes might look like uneven, somebody glances somewhere down in them will
actually want to discover structure since in Chaos deduction design and chance are firmly
connected. Accordingly, principal examiners attempt, to perform projection of protection future
incomes. This included probing factors like the interest for item, conceivable future advancement
of substitute, the climate of firm and commerce indeed, even economy in general. So, all data
pertinent to future output of the organizations being referred and make sure about those activities
which could led them for working and effectively working progress.
The implication that could work with having more effective progress and keeping out
with highly effectively things. While having such things the relationship among their places and
growth for more high financial problems for which shares and many other capital market could
gets effected. In working with more process and kindly helping with their major things this could
keep their effective things and make sure for having their valuable things and places their buying
more high products and services (Ledhem and Mekidiche, 2020). The fundamentalists beaten the
arbitrary walker by advancing the argument that if beneficial freedoms didn't exist and financial
backer utilize crucial examiners, why then colossal measures of cash were all while being spend
on examination and undertaking advices. Arbitrary walkers answer was that crucial assessment
worked productively, why then new contestant matter of key.

Examination contend these increase away as occurs any other industry. Aside from the
above banter between random walkers and fundamentalists the necessity of probabilistic
independence between progressive value changes was excessively high-priced for being typified
in development writing of the financial hypothesis (Bashir and et.al., 2020). The uneven walk
model which appeared to depict the value conduct was just quantifiable and a monetary
hypothesis which the arbitrary model assert was vital. As referenced over sensible game model
accept hazard non-partisanship. Under financial backers will constantly really like hold
whichever resource produces the most remarkable anticipated return, totally disregarding
contrasts in hazard. Risk suggests the martingale more prohibitive irregular walk representation.
On the chance that specialists mind what the higher snapshots of their return flow hazard infers,
at that direct they will never really offer away chronological reliance in the higher provisional
snapshots of returns (Szász and et.al., 2020). Along these lines predictable with no zero
association in restrictive changes. The way that future contingent changes are incompletely
predict able unimportant in light fact that hazard lack of bias propose that nobody thinks often
about these fluctuations.
QUESTION 4
International money markets have impacted international capital markets and stock prices.
International money market that could take their program while for working with many
stock market and through having the difficult for knowing about how this can work. Quantitative
easing that could keep the countries about their economics system and make sure for rising the
stock about the target stock that could led with high sources. After having all the purpose that
could keep them for supporting about many times and keeping them with many effectiveness
buying massive amounts (Ca'Zorzi and et.al., 2020). QE that could take the place about massive
amounts of government bonds between two or other investments for keeping their proper
estimation about spending with high expand. UK have taken the 210 firms account with 67% of
the UK financial services jobs (as per shown in graph) and figuring cross out the all UK sector
with 35%.

Investor expectation keeping high stock market responds about the federal reserve
activity. This could led them for working with having the QE rise for announces and keeping
them with more performance. The QE pushes interested that could keep them for having down
rates, while having returns investors and savers also get them over while by keeping their
products for the firm. The lowers the returns about investors and savers about investing safer and
keeping them with money market accounts (Bai and et.al., 2021). Along with this most of these
investors are working for weight portfolio towards many other stocks, this could also help
pushing up with stock market prices. Fundamental analysis holds about their business concepts
expansion that could keep them for working with high estimation and make sure for having more
system in stock market. QE some economists and that analysts about through inflates assets
prices.
Following all the financial crisis, the Bank have also allowed for keeping them dramatic
using those activities. The Bank of England have taken their places and make sure for keeping
their virtual QE. The attempts also required for knowing about those further process and that
could include those activities which could make the countries business high. The impact QE that
could keep them for UK and the economy about those process and make sure study analysis and
keeping their effective or impact over through typically easily (Lin and Su, 2020). Financial
marketing in attempts about their force that could presented and come to know about how they
can work. It could be also negative points remains the suggestion the extract size and effective
policy about their places and make sure for having their high places and keeping them with more
working. The country economics evidence about various system and through rebalancing
channels.

A year so later about UK mortgage and that could keep them with them emergency
funding about the from the Bank of England. The lenders that could take year 2008, UK
government have think about how usually they can work and make sure about for keeping them
and completion about how they can make their process submission. UK banks that could easily
led them for working with controversial both in effectiveness and its implementation although
keeping with high benefits and also make sure for knowing QE assess (Shahrestani and Rafei,
2020). The operation about the significant and keep them for market research and also bring out
for knowing about their system programme within the impacted market system. Financial
services that could also help them for keeping and make sure for having their high sources and
taking their risk managing about various things. 87% of services that could keep their
international market capital and ensure about their services for which the 96% valuable things.
QE keep their system and managing their work and ensuring about their process and
implementation for which the policies.
CONCLUSION
From the above report it had been concluded that, exchange rate causes that could cause
their highlights about how they can work and manage their highlights about working things.
Exchange rate volatility in the foreign exchange market and that could also led them for working
with high process. Along with this also examined about the international trade that could also led
them for knowing about how they usually work and keeping them with more estimation in using
the proper government system. Many of the risk that could keep the natural concepts and make
sure for having their more international trade and risks via that market of governments rules
about their system. While literature critically that could carry out the financial econometrics and
that could informational about London stock exchange. This methods that could adopt those

secure about their services and keeping them with high sources. It had been seems that
interested rate policy and QE operation that could easily manage their work and keep them
impacted about those prices which could keep their working assess. Financial services that could
take place about their work and international money market that could impacted about
international capital market and managing stock prices.

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