This paper compares the pricing and hedging performance of the LMM model against two spot-rate models, namely Hull-White and Black-Karasinski, and the more recent Swap Market Model from an Asset-Liability-Management (ALM) perspective. In contrast to previous studies in the literature, our...

Foreign Exchange rate movement is one of the most important indicator for investors decision to invest in the Foreign Exchange and Forex markets. The development of this market and gaining stability of this progress is possible through the investment of the investors. If investors invest keeping...