The ability of futures markets to predict subsequent spot prices has been a controversial topic for a number of years. Empirical evidence to date is mixed; for any given market, some studies find evidence of efficiency, others of inefficiency. In part, these apparently conflicting findings reflect d
Principles of the regulation of futures markets
โ Scribed by James M. Stone
- Publisher
- John Wiley and Sons
- Year
- 1981
- Tongue
- English
- Weight
- 334 KB
- Volume
- 1
- Category
- Article
- ISSN
- 0270-7314
No coin nor oath required. For personal study only.
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ntil very recently, commodity futures markets were largely ignored by the U vast majority of economists. At the same time, markets for foreign currencies were studied by only a relative handful of specialists in international trade and finance. This article describes an area which overlaps the two v
This article examines the characteristics of key measures of volatility for different types of futures contracts to provide a better foundation for modeling volatility behavior and derivative values. Particular attention is focused on analyzing how different measures of volatility affect volatility
erhaps no other subject area in the futures industry is as misunderstood as P the function of margins. Margins in futures markets perform different economic functions from margins in securities markets. However, people often mistakenly assume the functions are the same because the same terms are use
We wish to thank anonymous referees for their comments. Any errors are the responsibility of the 'For a discussion of industry practices, see Keith Schap (1989).
## Abstract This study investigates the trading activity of the Taiwan Futures Exchange (TAIFEX) and Singapore Exchange Derivatives Trading Limited (SGXโDT) Taiwan Stock Index Futures markets by analyzing the intraday patterns of volume and volatility. In addition, the market closure theory, which