Futures Market

Batik clothes are a society national cultural heritage of Indonesia. In the last four decades has experienced profit, loss and legal intellectual property rights disputes in its business development. It has huge economic income contribution to economy development of Indonesia. The problem of lack of property rights to be implemented has made several losses of income and legal ownership. A better production technology combined together with high cultural philosophical value needs to be paid attention to maintain quality and its exclusivity. The government should be more serious to protect batik craft pattern designers in order ascertain legal ownership product and design through a formal laws confirmations. Batik needs a better and competitive business strategy to win future market globally.

Allaz and Vila (1993) show that the existence of futures markets increases the efficiency of markets in a Cournot setting. This paper looks at the efficiency effect of financial options in a similar framework. It shows that the existence of financial options also makes markets more efficient; though to a smaller extent than futures. This is particularly relevant for markets with market power and costly storage, like electricity markets.

The food crisis of 2007-2008 and the resulting urban riots observed in about forty developing countries placed the question of price instability at the very heart of the debate. The paper states that, since the 80s, the prevailing idea is that the best option is to manage risks without "affecting prices" by means of private risk management instruments (crop insurance, future markets...) in conjunction with the provision of safety nets for vulnerable populations. Indeed, the stabilisation of agricultural prices is thought to be not desirable because i) it prevents prices from playing their role of a signal guiding production and trade behaviour and ii) by dissociating price movements from production variation, it prevents producers from taking advantage of the "natural insurance" resulting from the negative correlation between prices and harvest volumes. Nevertheless, this strategy had difficulty in standing up to the facts: the development of private risk-managem...

The significance of oil market and its impact on economic growth in oil-exporting and oil-consuming countries has led to examination of factors affecting it in different studies. Financial market and its components have penetrated in traditional oil market and this has resulted in creation of exchanges to trade oil-related securities. Therefore, the importance of financial markets has emerged not as an exogenous variable but as an endogenous variable within the oil market. Scientific results of the research demonstrate that the long-term impact of futures markets on the oil market is definite, however during the crises, due to the concerns about complicated crisis conditions, the effective time horizon becomes short-term, and consequently it is the spot market that influences future variables. Therefore, it is suggested that, in order to prevent the impact of global financial crises on the state’s budget, we have to monitor the financial markets and also participate in oil futures market which has the advantage of generating risk coverage and ensuring the country’s budget to become secure against price fluctuations of international markets. Finally, by undertaking a wise strategy of speculation, we can take advantage of potential opportunities, if supported by domestic financial institutions and Ministry of Petroleum and, therefore, earn the country tremendous revenues.

PurposeThe purpose of this paper is to examine the effects of the current global crisis on the integration and co‐movements of selected stock index futures markets.Design/methodology/approachTime series techniques of cointegration and weekly data covering the period from January 2001 to December 2009 were used in this study. The period of analysis was divided into two periods, namely the pre‐crisis period (January 2001‐July 2007) and during crisis period (August 2007‐December 2009).FindingsNo evidence was found of cointegration among the stock index futures markets in both periods. Accordingly, the 2007 subprime crisis does not seem to affect the long‐run co‐movements among the stock index futures markets.Practical implicationsThe stock index futures markets provide opportunity for the potential benefits from international portfolio diversification and hedging strategies even after the subprime crisis. The stock index futures significantly extended the variety of investment and risk...

PurposeThis paper draws on research undertaken for the State of Play in the Futures Field (SoPiFF) project and aims to explore the contribution of futures work to understanding and resolving aspects of the global problematique and to examine the social interests evident in futures work.Design/methodology/approachThe project used an integral meta‐scanning framework to review publicly available futures material. The framework categorizes futures work according to organizational type, social interests, methods, domains and geographic location (details of the methodology are outlined in the accompanying introductory paper as well as on the web site created for the project).FindingsThe futures field has made a series of significant contributions to understanding the global problematique and has contributed to the pre‐conditions for its resolution. However, the bulk of mainstream futures work does little to improve the preparedness of humanity for looming future crises. More innovative fu...

This paper provides an empirical description of the relationship between the trading system operated by a stock exchange and the trading behaviour of heterogeneous investors who use the exchange. The recent introduction of SETS in the London Stock Exchange provides an ...

US Treasury bill and Eurodollar futures are employed to investigate volatility spillovers between US and Eurodollar interest rates. The paper shows that both interest rates follow a GARCH process but they do not share a common volatility factor. A bivariate EGARCH ...

Common methods for obtaining and organizing information for evaluating human resource development (HRD) decisions, such as surveys, focus groups, Delphi processes, and discussion at business meetings, can be relatively costly, ad hoc, and difficult to apply. In this article, a review is presented of relatively inexpensive, continuous, and easy-to-apply innovations in information aggregation for examining futures of ideas that are drawn from principles and mechanisms of commodity futures markets. A description is given of how futures markets for ideas have strong applicability to strategic, tactical, and operational decisions about the development, diffusion, and implementation of HRD products and services. Examples are offered for how idea futures markets could support HRD decisions about sales forecasting, product efficacy, project management, environmental scanning, and identification of expertise.

The main topic of this paper is about the overall functionnning of the french futures bonds market. Three mains questions are asked: (1) Is the futures market inefficient? (2) Is there any free lunch between the future market and the spot market? (3) Does one of these markets play a leader role? Econometric tests give globally an negative answer to all these three questions. The arbitrage's opportunities which have been detected in the period 86.12-90.06 can be explained by the restrictions to sell-short bonds in the french cash market. The two tests on the rationality of the expectations which have been undertaken (a time series test and a panel data test) yield the same conclusion : one cannot reject the assumption that the market is efficient. Finally, tests of causality between the future market and the cash market on daily data shows strong instantaneous correlation between them. Concerning delayed causality, the future market have played a leader role during the period 90...

Business-to-business will be a considerable market in the near future of Internet e-business. In this future market, several providers need to be able to integrate or exchange information in providing a global service. The problem that we want to tackle in this paper is related to the existing information sources in the current Internet environment. That is how to integrate

The Spanish wording in the title is borrowed from a book by Joseph de la Vega published in Amsterdam in 1688. The book consists of a series of dialogues between a philosopher, a merchant and a shareholder, and is usually recognised as being one of the first analytical attempts to describe the different kinds of financial operations taking place in Amsterdam at the end of the seventeenth century. This paper tries to provide new textual evidence for a better understanding of the importance of Vega's book, both in the form of a detailed description of options and futures markets and as an appraisal of decision-making processes in a context of risk and uncertainty. It also considers some of the ethical implications of the individual strategies associated with the gambling and speculation activities taking place at that time on the Amsterdam Stock Exchange.

This paper describes a set of experiments performed with an artificial futures market simulation. The non-rational market participants, which evolve simple strategies using genetic algorithms, compete against each other to make profits by buying and selling futures contracts. The dynamic and equilibrium behavior of the participants is studied under a variety of conditions. The results suggest that in simple markets with non-homogenous participants opportunities for making consistent profits over extended periods of time exist. Introduction Although futures contracts are a relatively recent addition to the cornucopia of financial products available to market participants, their rate of growth has positioned them as one of the most traded financial vehicles in the world. Scalpers, day traders, institutions, and hedgers all compete to exchange risk and return in ways that meet their objectives. All participants in the market have data about the cumulative actions of all of the other pa...

The district heating sector is challenged in its traditional way of doing business by buildings increasingly more energy efficient (with low heat demand for space heating). This paper reports on work of mapping out such challenges connected to passive houses in Sweden. It should be noted that the conditions might be different in different geographical areas. To gain climate friendliness in the building sector a system perspective must be used both regarding energy and environmental issues. The levels of energy use in buildings in Sweden today and in the future are discussed together with marginal vs. average thinking regarding energy and heat production. From our findings we conclude that it is not necessarily so that electricity or natural gas should be the option of choice for hot water demand or peak loads that need to be externally covered also in energy efficient buildings. However, it will require active work by district heating companies to stay competitive. It will be increa...

Journal of Applied Sciences 5 (1): 101-103, 2005 ISSN 1607-8926 © 2005 Asian Network for Scientific Information ... Corresponding Author: Hasan Akca, Department of Agricultural Economics, Faculty of Agriculture, Gaziosmanpasa University, 60240, Tokat-Turkey Fax: ...

For nearly 50 years, geodesists and surveyors developed deformation monitoring techniques based on traditional land surveying equipment, such as theodolites, Electronic Distance Measuring Devices, both absolute at sub-millimetric accuracy (Mekometer, derived by a prototype of Physical National Laboratory, Teddington, UK), and interferometric (long arm Michelson laser interferometers) and submillimetric levels. From the 1980's onwards, these techniques were first supplemented and