In Chain, actual malls, theme parks, hotels and corporate centers worldwide are joined into a monolithic superlandscape | dG1fSlZhekt5TGpCU28
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02:48In order to maintain the maximum exposure and the maximum exposure you can have is a
02:53Worldwide and be 24 hours the banks have what's called a 24-hour global rotating book
02:58So at the beginning of the day the London operator
03:03Is on the phone
03:04To their Tokyo counterpart and at the end of the day they're on the phone to their New York counterpart
03:09The New York counterpart picks that up at the end of their day. They found their Tokyo counterpart
03:14Tokyo counterpart picks that up and then it starts again foreign exchange trading is
03:20perhaps
03:21the most direct and blunt side of the way in which these investment banks
03:27Trade on on the open markets
03:31It's a it's a little bit like using a sledgehammer and options is when it starts getting really interesting
03:37options is when you're
03:39pricing promises and
03:41That's the the interesting thing about the way in which
03:46These banks operate and said a lot a great number of the trades are on notional ideas
03:50you're purchasing the option to buy something or the option to sell something and
03:55How do you price a promise?