Brent crude oil futures contracts are traded on both the Singapore International Monetary Exchange (SIMEX) and the International Petroleum Exchange (IPE). Through a mutual offset system between SIMEX and IPE, Brent crude oil futures contracts can be traded up to nineteen hours each day. The...

The Risk Premium and Cost-of-Carry hypotheses regarding the pricing of futures contracts are tested using nested and non-nested procedures. Cointegrating relationships among the Australian dollar spot and futures prices, and US and Australian risk-free rates of interest, suggest an...