Baseball. Sports and Games : : sportsandgames. Baseball is a bat- and- ball sport played between two teams of nine players each. The goal is to score runs by hitting a thrown ball with a bat and touching a series of four bases arranged at the corners of a ninety- foot square, or diamond. ![]() Players on one team (the batting team) take turns hitting against the pitcher of the other team (the fielding team), which tries to stop them from scoring runs by getting hitters out in any of several ways. A player on the batting team can stop at any of the bases and later advance via a teammate's hit or other means. The teams switch between batting and fielding whenever the fielding team records three outs. One turn at bat - 3 outs - for each team constitutes an inning; nine innings make up a professional game. The team with the most runs at the end of the game wins. Evolving from older bat- and- ball games, an early form of baseball was being played in England by the mid- eighteenth century. This game and the related rounders were brought by British and Irish immigrants to North America, where the modern version of baseball developed. By the late nineteenth century, baseball was widely recognized as the national sport of the United States. Baseball on the professional, amateur, and youth levels is now popular in North America, parts of Central and South America and the Caribbean, and parts of East Asia. The game is sometimes referred to as hardball, in contrast to the derivative game of softball. Download the free trial version below to get started. Double-click the downloaded file to install the software. PNC Park is a baseball park located in Pittsburgh, Pennsylvania. It is the fifth home of the Pittsburgh Pirates, the city's Major League Baseball (MLB) franchise. It opened during the 2. Major League Baseball season, after the controlled implosion of the Pirates' previous home, Three Rivers Stadium. The ballpark is sponsored by the locally- based PNC Financial Services, which purchased the naming rights in 1. PNC Park features a natural grass playing surface and seats 3. Major League park. Funded in conjunction with Heinz Field, the 1.Allegheny River, on the North Shore of Pittsburgh with a view of Downtown Pittsburgh.Plans to build a new stadium for the Pirates originated in 1.Built in the style of "classic" stadiums, such as Boston's Fenway Park, PNC Park also introduced unique features, such as the use of limestone in the building's facade.The park also features a riverside concourse, steel truss work, an extensive out- of- town scoreboard, and many local eateries.Constructed faster than most modern stadiums, workers built PNC Park in a 2. on this page. Since completion, PNC Park has been hailed as one of the best ballparks in the country. It has the third- cheapest average ticket prices of any MLB stadium and has helped attract business to surrounding establishments, though the Pirates have not had a winning season since they moved to the stadium. PNC Park hosted the 2. Major League Baseball All- Star Game, the fifth MLB All- Star Game held in Pittsburgh. Baseball. arkansas trailer dealer license.
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In finance, a foreign exchange option (commonly shortened to just FX option or currency option) is a derivative financial instrument that gives the right but not the obligation to exchange money denominated in one currency into another currency at a pre- agreed exchange rate on a specified date.[1] See Foreign exchange derivative. The foreign exchange options market is the deepest, largest and most liquid market for options of any kind. Most trading is over the counter (OTC) and is lightly regulated, but a fraction is traded on exchanges like the International Securities Exchange, Philadelphia Stock Exchange, or the Chicago Mercantile Exchange for options on futures contracts. The global market for exchange- traded currency options was notionally valued by the Bank for International Settlements at $1. For example, a GBPUSD contract could give the owner the right to sell ? December 3. 1. In this case the pre- agreed exchange rate, or strike price, is 2. USD per GBP (or GBP/USD 2. This type of contract is both a call on dollars and a put on sterling, and is typically called a GBPUSD put, as it is a put on the exchange rate; although it could equally be called a USDGBP call. If the rate is lower than 2. December 3. 1 (say 1. GBP at 2. 0. 00. 0 and immediately buy it back in the spot market at 1. GBPUSD ? 1. 9. 00. GBPUSD) ? 1,0. 00,0. GBP = 1. 00,0. 00 USD in the process. If instead they take the profit in GBP (by selling the USD on the spot market) this amounts to 1. GBP. Although FX options are more widely used today than ever before, few multinationals act as if they truly understand when and why these instruments can add to shareholder value. To the contrary, much of the time corporates seem to use FX options to paper over accounting problems, or to disguise the true cost of speculative positioning, or sometimes to solve internal control problems. The standard clich? Options are typically portrayed as a form of financial insurance, no less useful than property and casualty insurance. This glossy rationale masks the reality: if it is insurance then a currency option is akin to buying theft insurance to protect against flood risk. The truth is that the range of truly non- speculative uses for currency options, arising from the normal operations of a company, is quite small. In reality currency options do provide excellent vehicles for corporates' speculative positioning in the guise of hedging. Corporates would go better if they didn't believe the disguise was real. Let's start with six of the most common myths about the benefits of FX options to the international corporation - - myths that damage shareholder values. Historically, the currency derivative pricing literature and the macroeconomics literature on FX determination have progressed separately. In this Chapter I argue the joint study of these two strands of literature and give an overview of FX option pricing concepts and terminology crucial for this interdisciplinary study. I also explain the three sources of information about market expectations and perception of risk that can be extracted from FX option prices and review empirical methods for extracting option- implied densities of future exchange rates. As an illustration, I conclude the Chapter by investigating time series dynamics of option- implied measures of FX risk vis- a- vis market events and US government policy actions during the period January 2. December 2. 00. 8. Chapter 2: This Chapter proposes using foreign exchange (FX) options with different strike prices and maturities to capture both FX expectations and risks. We show that exchange rate movements, which are notoriously difficult to model empirically, are well- explained by the term structures of forward premia and options- based measures of FX expectations and risk. Although this finding is to be expected, expectations and risk have been largely ignored in empirical exchange rate modeling. Using daily options data for six major currency pairs, we first show that the cross section options- implied standard deviation, skewness and kurtosis consistently explain not only the conditional mean but also the entire conditional distribution of subsequent currency excess returns for horizons ranging from one week to twelve months. At June 3. 0 and September 3. Note, however, that the notional amount of Ridgeway's hedging instrument was only ? Therefore, subsequent to the increase in the value of the pound (which is assumed to have occurred on June 3. Ridgeway's foreign currency exchange risk was not hedged. For the three- month period ending September 3. Of that amount, only $5. The difference between those amounts ($2,5. At June 3. 0, the additional ? U. S. dollar fair value of $4. At September 3. 0, using the spot rate of 0. Ridge way will exclude from its assessment of hedge effectiveness the portion of the fair value of the put option attributable to time value. That is, Ridgeway will recognize changes in that portion of the put option's fair value in earnings but will not consider those changes to represent ineffectiveness. Aitan Goelman, the CFTC’s Director of Enforcement, stated: “The setting of a benchmark rate is not simply another opportunity for banks to earn a profit. Countless individuals and companies around the world rely on these rates to settle financial contracts, and this reliance is premised on faith in the fundamental integrity of these benchmarks. The market only works if people have confidence that the process of setting these benchmarks is fair, not corrupted by manipulation by some of the biggest banks in the world.”. The Commission finalized rules to implement the Dodd- Frank Wall Street Reform and Consumer Protection Act regarding Regulation of Off- Exchange Retail Foreign Exchange Transactions and Intermediaries. The Commission also finalized Conforming Changes to existing Retail Foreign Exchange Regulations in response to the Dodd- Frank Act. Additional information regarding these final rules is provided below, including rules, factsheets, and details of meetings held between CFTC Staff and outside parties. Generally, retail customers are: (1) individuals with less than $1. The enumerated counterparties who may lawfully conduct off- exchange foreign currency trading with retail customers are regulated financial entities. These include, among others, FCMs and affiliates of FCMs. FCMs and their affiliates that are not also regulated as one of the other enumerated financial entities, remain subject to the Commission's anti- fraud jurisdiction with respect to foreign currency transactions. This paper joins the vast literature on the forward premium puzzle by relating exchange rate returns to the stock and currency variance premiums measured as the option- implied variance minus the expected or realized variance of stock and currency returns respectively. First, we empirically show that the foreign exchange (forex) variance risk is indeed priced in forex markets- -the currency variance risk premium is a useful predictor of the exchange rate return, especially at a medium 6- month horizon. Then, we document a finding that the stock variance risk premium can also predict the exchange rate return at a short 1- month horizon. Thus, currency and stock variance risk premiums seem to contain differential information content for the exchange rate return. This is confirmed by the fact that stock and currency variance premiums are poorly correlated with each other and by the evidence that the currency variance premium is not a useful predictor for local stock market returns. As required by the Commodity Exchange Act, the rule includes requirements for conducting retail forex transactions with respect to disclosure, recordkeeping, capital and margin, reporting, business conduct, and documentation. The requirements are similar to a recently enacted Commodity Futures Trading Commission (CFTC) rule governing retail forex transactions by CFTC registrants. The final rule was published in the Federal Register on July 1. The final rule is effective on July 1. National banks that were engaged in a retail forex business prior to July 1. August 1. 4, 2. 01. Currency Option Definition | Investopedia. What is a 'Currency Option' A currency option is a contract that grants the buyer the right, but not the obligation, to buy or sell a specified currency at a .. Foreign exchange option - Wikipedia. Foreign_exchange_option.
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