necessary technology to reduce emissions of greenhouse gases,but not only that. The ‘goods‘ which are the object of trading on … this market are the tons of carbondioxide which are not emitted into the atmosphere. For trading these goods the EU …

futures prices, both during the earlier period of 1985-2002 and during the spike. The dynamics of the term structure changed …

simulating a trading strategy based on under- and over-pricing, and examining the informational content of the volatility implied … by option prices. The final group focuses on the social costs and/or benefits that arise from derivatives trading. The …

We show that Standard & Poor's (S&P) 500 futures are pulled toward the at-the-money strike price on days when serial … options on the S&P 500 futures expire (pinning) and are pushed away from the cost-of-carry adjusted at-the-money strike price … (and early exercise) of in-the-money options by individual investors. The associated shift in notional futures value is at …

suggests a novel risk factor in the asset class of commodity futures or robust trading opportunities. …The term structure of commodity futures is important information for traders and investors. Traditional term …-structure strategies are static; they tend to use the slope of term structure at a given moment. Instead, our trading strategy uses the …

futures markets. Using hourly data, we jointly analyze the interactions between markets, estimating a bivariate error … and futures market volatility. Our findings show a bidirectional causal relationship between market volatilities, with a … unidirectional cross interaction from futures to spot market returns. This pattern suggests that the futures market leads the spot …

This paper examines the dynamics of returns and order imbalances across the KOSPI 200 cash, futures and option markets …, domestic institutional investors prefer futures, domestic individual investors prefer options, and foreign investors prefer …