How Bitcoin Brokers Trade Millions Without an Exchange

Government agencies that procure goods from abroad typically face various risks, particularly uncertainty over future real prices. Interestingly, the agencies can use a counter-trade transaction to solve the real price problem. Because both sides of a counter-trade deal are real goods, not financial instruments, counter-trade can solve the inflation risk involved in foreign currency procurement.

Counter-trade therefore can sometimes dominate financial instruments as a way to hedge. Article Purchase 24 hours access for EUR 35, Issue Purchase 30 days access for EUR , Journal Applied Financial Economics Volume 13, - Issue Submit an article Journal homepage.

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