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
Roth, P. Mastering Foreign Exchange and Money Markets, FT Prentice Hall, 1996.
Stigum, M. and Robinson, F. Money Market and Bond Calculations, Irwin, 1996.
Walmsley, J. The Foreign Exchange and Money Markets Guide, 2nd edn, Wiley, 2000.
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© 2005 Moorad Choudhry, Didier Joannas, Richard Pereira and Rod Pienaar
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Choudhry, M., Joannas, D., Pereira, R., Pienaar, R. (2005). Money Market Instruments and Foreign Exchange. In: Capital Market Instruments. Finance and Capital Markets Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230508989_3
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DOI: https://doi.org/10.1057/9780230508989_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-52426-6
Online ISBN: 978-0-230-50898-9
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