The Fast Fourier Transform (FFT) has been used in many scientific and engineering applications. The use of FFT for financial derivatives has been gaining momentum in the recent past. In this thesis, i) we have improved a recently proposed model of FFT for pricing financial derivatives to help design an efficient parallel algorithm. The improved mathematical model put forth in our research bridges a gap between quantitative approaches for the option pricing problem and practical implementation of such approaches on modern computer architectures. The thesis goes further by proving that the improved model of fast Fourier transform for option pricing produces accurate option values. ii) We have developed a parallel algorithm for the FFT using the classical Cooley-Tukey algorithm and improved this algorithm by introducing a data swapping technique that brings data closer to the respective processors and hence reduces the communication overhead to a large extent leading to better performance of the parallel algorithm. We have tested the new algorithm on a 20 node SunFire 6800 high performance computing system and compared the new algorithm with the traditional Cooley-Tukey algorithm. Option values are calculated for various strike prices with a proper selection of strike-price spacing to ensure fine-grid integration for FFT computation as well as to maximize the number of strikes lying in the desired region of the stock price. Compared to the traditional Cooley-Tukey algorithm, the current algorithm with data swapping performs better by more than 15% for large data sizes. In the rapidly changing market place, these improvements could mean a lot for an investor or financial institution because obtaining faster results offers a competitive advantages.

The Fast Fourier Transform (FFT) has been used in many scientific and engineering applications. The use of FFT for financial derivatives has been gaining momentum in the recent past. In this thesis, i) we have improved a recently proposed model of FFT for pricing financial derivatives to help design an efficient parallel algorithm. The improved mathematical model put forth in our research bridges a gap between quantitative approaches for the option pricing problem and practical implementation of such approaches on modern computer architectures. The thesis goes further by proving that the improved model of fast Fourier transform for option pricing produces accurate option values. ii) We have developed a parallel algorithm for the FFT using the classical Cooley-Tukey algorithm and improved this algorithm by introducing a data swapping technique that brings data closer to the respective processors and hence reduces the communication overhead to a large extent leading to better performance of the parallel algorithm. We have tested the new algorithm on a 20 node SunFire 6800 high performance computing system and compared the new algorithm with the traditional Cooley-Tukey algorithm. Option values are calculated for various strike prices with a proper selection of strike-price spacing to ensure fine-grid integration for FFT computation as well as to maximize the number of strikes lying in the desired region of the stock price. Compared to the traditional Cooley-Tukey algorithm, the current algorithm with data swapping performs better by more than 15% for large data sizes. In the rapidly changing market place, these improvements could mean a lot for an investor or financial institution because obtaining faster results offers a competitive advantages.

This diploma thesis deals with the issue of financial derivatives, their reporting, classification, accounting point of view and use on the example of a particular entity. The theoretical part summarizes the general theoretical knowledge about the given issue. The main goal of this thesis is to evaluate possibilities of using financial derivatives from the accounting and financial perspective of company named Schäfer Sudex s.r.o. This enterprise produces food containers made of stainless steel. The analysis of receivables and payables shows that the enterprise should ensure against the possible decline in value of foreign receivables as result of exchange rate variability. This thesis presents suggestions for securing receivables. Based on results, recommended solutions were created. Company should secure value of their receivables by using forward. Based at conservative exchange rate development, profit would be 4 mil CZK. But at aggressive change, earnings would exceed 18,7 mil CZK.

This diploma thesis deals with stock {--} exchange business on European continent, especially on organised markets. Main goal is to underline czech stock market, its financial derivatives. In the theoretical part chosen general topics concerning stock-exchange business on organized markets are characterized. Importace of stock {--} exchange, it structure, principles of business, history of stock {--} exchange business are described. Next chapter deals with czech market (organised Prague stock exchange and an organiser of off-exchange trading RM {--} system), its comparison, the new financial derivatives market as well. As compared markets are chosen: London, Wien, Warsaw, Budapest, Italian stock Exchange, Deutsche Borse, cross border exchange organisation NYSE EURONEXT and Prague stock exchange. The application part is based upon information gathered from web sites of particular stock exchanges and international organisations. Chosen figures concerning positron of stock exchange markets on international market with securities are: organizational structure, way of trading and clearing, trading hours, distributing information, trading financial derivatives, statistical indicators: number of members, market capitalizaton, trade volume, number of transactions and evaluation of futures trades.

The diploma paper offers a complex view on hedging of a foreign exchange risk in a concrete company, which is highly dependent on export. Preliminary theoretical part sums up all the possibilities how to avoid risk, including hedging or financial derivatives. Specific attention is paid to in practise always more popular option strategies. Practical part then try to apply all the acquired knowledge on a concrete company. After the complex analysis of revenues and expenditures is presented analysis and evaluation of the whole hedging strategy.

The financial risks which are faced by companies in international business are defined in the theoretical part of the graduation thesis. The second chapter presents particular methods of credit risks management. The principles of financial derivatives, the motivation of derivatives trading and their brief history is approached in the third chapter. The last two chapters focus on practical example. The corporation Czech airlines, Inc. is presented in the fourth chapter. In the last fifth chapter the concrete used methods of financial risks management are defined.

This diploma thesis deals with hedging with financial derivatives in international business. It is divided into two main parts. The first - theoretical part describes the general definition of the term "derivative" as well as brief history of derivatives. The next part determines derivatives from three key aspects - economic, legal and accounting. The following part deals with statistical methods and the current situation on the derivative markets. The following chapter analyzes the main types of derivatives - forwards, futures, swaps and options as well as examples of their usage. The second part of this work examines the hedging process within the company Med Povrly. Due to its involvement in the international trade with copper, the company is exposed to commodity and exchange-rate risks.

This thesis deals with selected aspects of financial management of transnational corporations and describes the impact of foreign exchange risk on these companies. The theoretic part of this thesis explains terms like cash pooling, netting and concerns the issue of transfer prices. Furthermore the principles of foreign exchange risk, transaction, economic and translation exposure are defined with focus on financial derivatives that serve as instruments for managing and hedging the risk. The practical part depicts the case study, in which the theoretical knowledge has been applied to a chosen international company.

Thesis "Currency Hedging Using Financial Derivates" provides comprehensive survey about hedge derivatives contracts from view of real datas. The principle is whole life of derivates contracts - from the beginning of contract settlement to expiration of agreement. Thesis shows hedge relation with czech accounting law and provides different views on potential problems and shows possible improvements in this topic.

This thesis deals with derivatives and their use in hedging foreign exchange risk. The aim is to examine methods of hedging FX risk with derivatives and specifically evaluate the ways and extent of their use on the Czech market. In the first chapter the term risk and particularly FX risk is explained and its identification, measurement, management and elimination methods are described. The second chapter focuses on the main types of derivatives, their characteristics and use in risk management. The third chapter describes and evaluates the actual use of derivatives on the Czech market based on their analysis in the Czech banking sector.