Extrait du sommaire : «Presentation of the product. Definitions. Stockindexfutures. Definition of a stockindex. Definition of a Future. Reasons of the successfulness of the StockIndexFutures. The flexibility. The leverage. Hedging a portfolio. Liquidity and depth of...»
Extrait du document : « How a particular stock index tracks the market depends stocks, the weighting of individual stocks, and the averaging used to establish an index." III. ...»
«Specifications of the stock index futures Unlike some futures contracts such as commodities’ futures, stock index futures are cash settlement contracts. Because the delivery of a stock index is not possible, the position is settle in cash at maturity. Each index has its own contract’s specifications; we will be focused for this report on the CME S&P 500 futures contracts. d. The S&P 500 index The Standard and Poor's Corporation introduced the S&P 500 Index in 1957, since then it have regarded as the world benchmark for equity market....»
Extrait du sommaire : «Basic portfolio management. Explaination through questions. Explaination through a three-shares-composed portfolio.....»
Extrait du document : « against FTSE 100) spot index x £10 oboulo.com With Individual stock futures: The maturity of oboulo.com With Individual stocks futures: Marking to ...»
«In the event of the third Friday not being a business day, the Last Trading Day shall normally be the last business day preceding the third Friday First business day following the Last Trading Day 08.00 17.30 London time, Last Trading Day 08.00 16.30 London time Universal Stock Futures Contract (Cash Settlement) List of contract details in respect of London Stock Exchange shares (08/09/05) Last update 07/05/04 The third hedging solution is to deal with FTSE 100 tracker. In order to hedge my whole portfolio, I have to sell for the same amount of FTSE 100 tracker adjusted by the beta....»
Extrait du sommaire : «Introduction.. Characteristics of financial derivatives.. The risk involved.. Meaning of financial futures.. Hedging and managing of risk.. The concept of correlation between the portfolio and the index.. Different scenarios of hedging risks with...»
Extrait du document : « amounts of capital, stock exchange indicesTo reduce that the prices of stocks will decline the Dow Jones Industrial Average stock index, at an ...»
«Options are also very popular among investors and may be seen as an alternative to futures contracts. They give to the purchaser, in return for a premium, right to buy ‘call option’) or to sell option’) 100 shares of a specified stock at an agreed exchange rate (the ‘striking price’), and at a specified date or dates”.[10] In this contract, the person who paid the premium has the option to exercise his/her right or not, but the one who sells the options is committed to the contract....»
Comptabilité & finances | Bourse | Étude de cas | 19/03/2009 | .doc | 9 pages
Extrait du sommaire : «A general presentation of the Hong-Kong Stock Exchange. A relatively recent history. A specific organization and functioning. The main values. The local and international assets of the Hong Kong Stock Market. The particular relationship with the...»
Extrait du document : « 4 The main values There are many stocks indicators for the HKEx but the Hang Seng is the strongest index. CAC 40 is for the Paris Stock Exchange ...»
«And face to the stop of the foreign Asian money (as the Thai, etc), the interbank lending gone up quickly by +300% the last week.[15] This fact is one of the motors of the crisis The possible solutions face to the crisis and the future trends of the HKEX As a comparison with the European Security Plan for the crisis, the scenario is almost the same for the HKEX. Indeed, the IMF is foreseeing a real decrease of the future national growths in all countries and wants to create a Security or Backup Plan....»
Extrait du sommaire : «The Multi-Management and its advantages. Definitions. The Investment Industry. Why a multi-manager?. Is the multi-management a future for the investments industry?. 'Diversification'. Is diversification good or bad for a multi-manager fund?. The...»
Extrait du document : « to more assets benchmarked to Russell's index family than of a portfolio of one unique stock is 49.2 Increasing the number of stocks in a balanced ...»
«Part 3 - Is the multi-management a future for the investments industry? Everyone agrees that multi-management is a good solution, without risk, with a constant return, and a fare investment etc . Is this young (30 years) industry enough mature to be the new actor of the financial world? We will see in the second part that some questions have to be asked concerning the liability of this investment process and if it is accessible for every one. "Diversification" One of the questions in the mind of an investor is if multi-management follows the modern portfolio theory[12]....»
Extrait du sommaire : «Introduction.. The Core-Satellite model.. Reasons for the Core-Satellite model.. The tracking error.. Other advantages/drawbacks.. The satellites.. Exchange Traded Funds (ETFs).. Overview of Exchange Traded Funds.. Meaning of ETFs.. The kinds of...»
Extrait du document : « that represent the broad US and global stock markets. that is lacking with individual stocks, securities or futures, total return swaps and index funds. ...»
«The biggest providers: Barclays Global Investors, State Street and Vanguard, by far were well established as big providers of passive investing for mutual funds and pension funds. What kinds of ETFs exist? There are many available ETFs that attempt to track all kind of indexes (such as large-cap, mid-cap, small-cap, etc), specialties (such as value and growth), industries, countries, precious metals and other commodities or commodity indices like GSCI; and more are being developed for the future. Based on EDHEC Risk and Asset Management Research Center’s survey by 2004 to European institutional investors and asset managers, the responses reflected the geographical ETFs as a useful tool for both the core and satellite approach....»
Extrait du sommaire : «Introduction.. The importance of the LSE.. The influence on the consumption.. Investment and pension funds.. The mimicry.. The takeover bid.. The efficiency of the LSE.. Weak-form efficiency.. Semi strong-form efficiency.. Strong-form...»
Extrait du document : « The FTSE - 100 is the main index of the capitalized companies listed on the London Stock Exchange. Evolution of indexes over the ten past years ...»
«On the 21st August 2006, the CEO of LogicaCMG announced the take-over of his company over the swedish software and computer company WM-Data. Let’s see to what extent this new information has influenced the share price movements. London Share Price Chart (Source : www.logicacmg.com) One can notice that the price of LogicaCMG share has increased just after the announcement of the take-over, that means investors did not use any non available information before this announcement. Definition of the indices - Cac 40 The Cac 40 is the main index of Paris Stock Exchange. It appeared in 1988....»
Extrait du sommaire : «Généralités et extensions du modèle de BYS. Cas des options sur actions ne versant pas de dividendes. Cas des options européennes sur actions versant un dividende connu. Les options sur indices. Présentation. Intérêts de ce type...»
Extrait du document : « option = 15,25 Données finales: ? Indices = 584 ? Put principal marché est le Philadelphia Stock Exchange Fo La valeur du contrat futures est nulle ...»
«Résumé: Un call sur futures se traduit par : Position longue sur le contrat futures sous-jacent + Payoff total = F-K Un put sur futures se traduit par : Position courte sur le contrat futures sous-jacent + Payoff total = F-K Applications : Call sur futures: Soit un call sur contrats futures de cuivre d’échéance septembre avec un 0,70 ; et un contrat futures sur lb de cuivre; prix futures du cuivre échéance septembre est de 0,81 et le PC de la veille est de 0,80 Payoff total = ( 70) X = 2750 On peut décomposer le payoff total en deux : - Exercice de l’option : L’investisseur reçoit la somme de: X ( 70) = 2500 $ - Dénouement de la position sur contrat futures L’investisseur reçoit une somme de: X ( 80) = 250 $ Put sur futures: Soit un put sur contrats futures de cuivre d’échéance décembre avec un 2 ; et un contrat futures sur lb de cuivre; prix futures du cuivre échéance septembre est de 1,8 et le PC de la veille est de 1,79 Payoff total = X = On peut décomposer le payoff total en deux : - Exercice de l’option : L’investisseur reçoit la somme de: X 79) = 1050 $ - Dénouement de la position sur contrat futures L’investisseur doit une Somme de: X ( 79) = 50 $ 3 Les options Futures sur taux Ce sont généralement des options sur un contrat futures d’obligations d’Etat ou des options sur futures eurodollar ou euribor....»
Économie & marchés | Économie internationale | Étude de cas | 15/12/2011 | fr | .pdf | 15 pages
Extrait du sommaire : «TurkDEX en bref. Historique. Actionnariat. Produits phares Section. Les contrats Eurodevises. Avantages clés. Caractéristiques. Les autres contrats à termes. Les contrats à terme sur emprunts d’État. Les contrat à termes sur taux...»
Extrait du document : « indices boursiers de l'Istanbul Stock Exchange (ISE US citizens Top 20 Equity Index Futures and Options Les contrats à terme sur indices boursiers ...»
Extrait du sommaire : «Literature review. Data and summary statistics. Descriptive Statistics and Test of Normality. Test for Serial Dependence in First and Second Moments. Two Sub-periods for South Africa. Methodology. The AR-EGARCH-M Model. Estimating Procedure and...»
Extrait du document : « Nigerian index covers the period 11/15/1988 the Nominal Excess Return on Stocks," Journal of Return Tradeoff in Foreign Stock Markets," Journal ...»
«Choudhry (1996), uses GARCH-M model to study volatility, risk premia and persistence of volatility in six emerging stock markets (including Nigeria) before and after the 1987 stock market crash. He documents changes in the ARCH parameters before and after the 1987 crash, but finds no evidence of risk premium and volatility persistence. In passing, we note that SSA Stock Markets have received little attention in the (international) time-varying literature. Indeed, to the best of our knowledge [apart from Brooks, et al., (1997) and Appiah-Kusi and Pescetto (1998)] the time varying volatility aspects of these markets have not been previously examined....»
