By: Alejandro Covarrubias
Citi Banamex
Renata Herrerías Franco
ITAM
Until the last decade of the twentieth century, traders of all financial intermediaries determined benchmark prices of traded financial instruments using their own methodologies and computations. Thus, investors faced the possibility of buying at unfair prices if, at the time of settling the order, there was a disparity between the selling price and that determined by the trader. This problem was even more acute in the case of instruments that required several pricing assumptions, causing potential ambiguities in price determination.
Today, the employment of price vendors is fundamental in the financial markets, particularly in the derivatives and money markets, where pricing is a very complex process. For example, in the futures market , it is necessary to rely on correct prices in order to determine the margin accounts’ balances and, if necessary, execute margin calls whenever balances are below the minimum requirement.
By: Carlos Amtmann
The Transformational Leader: Promoter of Change
By: Doctor Gloria
In 1984, Noel Tichy and David Ulrich declared that to revitalize the US economy, the national agenda would have to include the creation of a new style of leadership: one that would no longer lead companies by the traditional paths, but which could transform them so that they could reinvent themselves. This new style was called transformational leadership.
Tichy and Ulrich’s statement 25 years ago is today highly relevant to today’s Mexico. Many of our political, social and business institutions need to be renewed by transformational leaders who can propose a new vision and are able to mobilize all the participants. Only if we reinvent our organizations can we make our economy grow and pull our country out of the rut into which it seems to be catch in a loop..
This article analyzes the characteristics of transformational leadership, its differences with other styles of leadership and its relationship with emotional intelligence, so readers can discover the abilities and skills they need to strengthen in order to bring about change in their organizations.
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