This paper explores the growing involvement of new types of non- commodity-sector-related players in commodity futures … involvement of banks. The impact of this new form of "speculation" on the price formation process on commodity futures markets is …

; while the current market requires innovative strategies including the use of Futures and Options as traded on SAFEX. However …

The effect of options’ introduction on underlying market is one of the frequently debated themes in financial research …. A significant body of literature addresses the question of effects of options’ introduction. The critical review of the … consensus, but there is little evidence for the destabilization effect of options. Given increasing growth of options in …

In a well-functioning futures market, the futures price at expiration equals the price of the underlying asset. This … condition failed to hold in grain markets for most of 2005-10. During this period, futures contracts expired up to 35% above the …

This paper investigates the relationship between futures prices and financial investments in derivatives of the main … volatility of futures prices. The Granger-causality tests suggest that speculative investments usually follow – rather than … precede - variations in futures returns. Employing a GARCH model, we find that the activity of money managers tends to be …

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

We investigate the informational content of options-implied probability density functions (PDFs) for the future price …