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janakisri Wrote:
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> I remember L2 had some bid-ask stuff on fx
> transactions. Maybe if you include bid-ask on 2
> different contracts if would be very inefficient
> compared to a single direct hedge
Right, but the cross hedge will give the manager the exposure that they want. While a proxy hedge will only approximate the currency they are looking to hedge.
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发表于 2011-7-11 18:59
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