... permission from International Financial Management, Sixth Edition, Jeff Madura Copyright © 2000 by West Publishing Company All Rights Reserved Question: Do you think that the three theories of international ... investing in Germany by CIA The concept of IRP is further explained in Figure # Note: This Figure is reproduced by permission from International Financial Management, Sixth Edition, Jeff Madura Copyright ... National Trading Futures Liquidation Most settled by actual delivery Some Most by offset, very few by delivery by offset, at a cost Transaction costs Set by "spread" between bank's buy Negotiated brokerage...