By: Victor Hugo Luque
The European City
By size, Basel is the third-largest city in Switzerland (the two largest are Zürich and Geneva, while the capital, Bern, ranks fourth). It has an enviable geographic position in Europe, situated on the banks of the Rhine River, at the border formed by Switzerland, Germany and France. And it´s the birthplace of the best tennis player ever, Roger Federer, who holds the record for most grand slams won, with a total of 16.
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.
Effective Collection in Periods of Crisis
Debts are not like good wine; they don’t get better with age.
Robert Dickinson, English barrister
How many times have we heard the phrase “A sale isn’t closed until it’s collected?” In effect, the ultimate goal of every financial administrator is to optimize the company’s cash flows, and relates directly to maximizing the company’s value. A steady increase in sales is important, but it is also essential to verify that the buyer has enough money to pay; this will ensure that the primordial purpose of every organization is fulfilled.
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