Abstract
Money market securities are debt securities with maturities of up to 12 months. Market issuers include sovereign governments, which issue Treasury bills, corporates issuing commercial paper, and banks issuing bills and certificates of deposit. Investors are attracted to the market because the instruments are highly liquid and carry relatively low credit risk. Investors in the money market include banks, local authorities, corporations, money market investment funds and individuals. However the money market is essentially a wholesale market and the denominations of individual instruments are relatively large.
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Selected bibliography and references
Choudhry, M. The Money Markets Handbook: A Practitioner’s Guide, Wiley Asia, 2005.
Roth, P. Mastering Foreign Exchange and Money Markets, FT Prentice Hall, 1996.
Walmsley, J. The Foreign Exchange and Money Markets Guide, 2nd edn, Wiley, 2000.
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© 2010 Moorad Choudhry, Didier Joannas, Gino Landuyt, Richard Pereira and Rod Pienaar
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Choudhry, M., Joannas, D., Landuyt, G., Pereira, R., Pienaar, R. (2010). Money Market Instruments and Foreign Exchange. In: Capital Market Instruments. Palgrave Macmillan, London. https://doi.org/10.1057/9780230279384_3
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DOI: https://doi.org/10.1057/9780230279384_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-230-57603-2
Online ISBN: 978-0-230-27938-4
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