| Understanding FX Futures | April 22, 2013 | © CME GROUP It is often said that the world is getting smaller and nowhere is this more apparent than in the increasingly globalized world of international commerce. <span>A number of factors have coalesced in the early 21 st century to promote free trade across distance and political boundaries. Political advances promoting free trade include reduction or elimination of restrictive tariffs, capital controls and subsidization of local businesses. Technical advances include reduced transportation costs promoted by containerization of products for ocean shipping, and advanced telecommunication systems lead by the emergence of the World Wide Web. Thus, today’s modern corporation frequently conducts business outside its native country and, in the process, earns revenues or incurs liabilities denominated in currencie
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