A derivative is a financial instrument that derives its value from an underlying asset. The underlying asset can be equity, currency, commodities, or interest rate. Thus, a change in the underlying ...

The Monthly publishes articles, as well as notes and other features, about mathematics and the profession. Its readers span a broad spectrum of mathematical interests, and include professional ...

Ever wondered how businesses and investors protect themselves from currency swings? Currency derivatives, such as futures, options, swaps, and forward contracts, offer powerful tools to manage and ...

We present a new approach to bounding financial derivative prices in regime-switching market models from both above and below. We derive sufficient conditions under which a particular class of ...

Let A → Ar be the map that takes a positive definite matrix to its rth power, and let DAr be the Fréchet derivative of this map. It is known that ∥DAr∥ = ∥rAr−1∥ if r ≤ 1 or if r ≥ 2, and also that ...