JEL Classification: C89, D81, F31, G21, G24.
Shevchuk Iryna, Ph.D. in Economics, Associate Professor of the Department of Economic Cybernetics, Ivan Franko National University of Lviv, Lviv, Ukraine
Yatsev Volodymyr, Master Degree, Ivan Franko National University of Lviv, Lviv, Ukraine
SOFTWARE DEVELOPMENT FOR ANALYSIS OF THE ACTIVITIES OF BANKS ON THE FOREIGN EXCHANGE MARKET
Introduction. The current state of foreign exchange markets is characterized by large fluctuations, which are increasingly difficult to predict. This is due to the integration processes in the world, the spread of free trade, the growth of influence on foreign exchange markets of emerging currencies, and the emergence of new banking products. That is why one of the primary tasks of banking management is precisely the management of currency risk.
Purpose. The purpose of the article is to analyze the activity of commercial banks on the foreign exchange market and develop a software product that allows each user to track the dynamics of foreign exchange rates, choose the best option for buying or selling currency and investigate the risks of foreign exchange transactions.
Results. The ways of improvement of currency risk calculations are proposed and the main requirements, structure, and tasks of the application are formulated, which will analyze the dynamics of exchange rates and will calculate the risks from conducting foreign exchange operations. An application for calculating currency risk has been developed, the user interface, functionalities, and sections of a software product are described.
Conclusions. Using the SmartValue software ensures users proper access to banking in the foreign exchange markets. A program that provides quick and easy access to currency rates, fluctuation schedules and VaR calculations will be an important tool for improving the bank’s operations and for clients who often use currency exchange services. Most of the Ukrainian banks offer their clients online access to currency transactions, and with the SmartValue software, this service is much more convenient and faster in access, since it is targeted and has only the most important and most needed features for the client.
Keywords: commercial bank, foreign exchange markets, currency exchange operations, software product, VaR methodology, user interface, programming environment.
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