Cover image for Commodity trading manual.
Title:
Commodity trading manual.
Author:
Catania, Patrick J.
Publication Information:
Chicago : Chicago Board of Trade, [1998]

©1998
Physical Description:
x, 410 pages : illustrations ; 26 cm
General Note:
Prepared by the Market and Product Development Dept. of the Chicago Board of Trade. Executive editor, Patrick J. Catania; project editor, Frank S. Rose.
Language:
English
ISBN:
9780814404966

9780814405116
Format :
Book

Available:*

Library
Call Number
Material Type
Home Location
Status
Central Library HG6049 .C65 1998 Adult Non-Fiction Non-Fiction Area
Searching...

On Order

Table of Contents

Section 1 The Futures Market Universep. 1
Chapter 1 Futures' Past: Development of the Marketplacep. 1
Old Chicagop. 4
Forwards to Futuresp. 5
Financial Revolutionp. 7
Financial Innovationp. 10
International and Electronic Connectionsp. 12
Further Readingsp. 13
Chapter 2 Why Futures? Overview of Futures Tradingp. 15
Price Theoryp. 16
Futures Contractsp. 21
Price Discoveryp. 23
Hedgingp. 23
Speculatingp. 25
Clearing and Marginingp. 26
Further Readingp. 27
Chapter 3 Futures Exchanges: Auction in Actionp. 29
Exchange Structurep. 30
Exchange Floor Operationsp. 31
The Auction: Who and Howp. 34
Price Discovery, Price Reportingp. 36
Market Datap. 37
Read All About Itp. 42
Further Readingp. 42
Chapter 4 Futures Commission Merchants: Putting the Customer Firstp. 45
Customer Operationsp. 46
Marginsp. 50
Ordersp. 51
Order Routingp. 53
Other FCM Servicesp. 56
Further Readingp. 57
Chapter 5 Clearing Operations: Preserving Market Integrity Ip. 67
The Clearinghouse Guarantorp. 68
The Clearing Processp. 70
Clearing Marginsp. 71
Guarantee Fundsp. 73
Facilitating Deliveryp. 73
Providing Market Informationp. 75
Further Readingp. 76
Chapter 6 Market Regulation: Preserving Market Integrity IIp. 77
Exchange Regulationp. 78
Federal Regulation: The Commodity Futures Trading Commissionp. 84
Industry Regulation: The National Futures Associationp. 89
Further Readingp. 92
Section II Market Foundations
Chapter 7 Hedging in the Futures Markets: Managing Riskp. 95
Who Hedges with Futuresp. 96
The Cash-Futures Relationshipsp. 97
Price Relationships: Grainsp. 102
Price Relationships: Debt Instrumentsp. 102
Delivery: Cash and Futures Linkp. 106
Basic Hedging Strategiesp. 108
Further Readingp. 115
Chapter 8 Speculating in the Futures Markets: Providing Liquidityp. 117
Speculative Typesp. 119
What Speculators Must Knowp. 120
Long Corn in 1975p. 122
Long Bonds in the 1987 Crashp. 125
Short Goldp. 128
Further Readingp. 129
Chapter 9 Price Analysis: Fundamental and Technical Approachesp. 131
The Fundamental Approachp. 132
The Technical Approachp. 140
A Cautionary Notep. 157
Further Readingp. 157
Chapter 10 Spreading: From Butterflies to the Crushp. 159
Ag Market Spreadsp. 162
Financial Market Spreadsp. 169
Further Readingp. 175
Chapter 11 Options on Futures: More Trading Dimensionsp. 177
Options Basicsp. 178
Option Pricingp. 180
Option Strategiesp. 183
Further Readingp. 192
Section III Underlying Markets
Chapter 12 Agricultural Markets: Grains, Oilseeds, Livestockp. 197
Grainsp. 198
Oilseedsp. 210
Livestockp. 218
Further Readingp. 225
Chapter 13 Financial Markets: Debt Instruments, Stock Indexes, Currenciesp. 227
Financial Markets Overviewp. 228
Debt Instrumentsp. 232
Equity Securitiesp. 253
Foreign Exchangep. 261
Further Readingp. 266
Chapter 14 Metals Markets: Gold, Silver, Copper, Platinump. 269
Goldp. 270
Silverp. 275
Copperp. 278
The Platinum Groupp. 281
Further Readingp. 283
Chapter 15 Forest, Fiber, and Food Markets: Lumber, Cotton, Orange Juice, Sugar, Cocoa, Coffeep. 285
Lumberp. 286
Cottonp. 287
Orange Juicep. 290
Sugarp. 293
Cocoap. 295
Coffeep. 298
Further Readingp. 300
Chapter 16 Energy Markets: Crude Oil, Hearing Oil, Gasoline, Natural Gas, Electricityp. 301
Crude Oilp. 303
Gasolinep. 309
Heating Oilp. 311
Natural Gasp. 313
Electricityp. 315
Further Readingp. 317
Section IV The Future of Futures
Chapter 17 Competition, Complementarity, Convergence: OTC, International, and Electronic Marketsp. 321
OTC Marketsp. 323
International Growthp. 330
Electronic Exchangesp. 333
Appendixp. 337
Directory of Futures Exchangesp. 337
Synopsis of U.S. Futures Exchangesp. 343
Top-Traded Contractsp. 354
Contract Specificationsp. 361
Glossaryp. 374
Indexp. 395

Google Preview