The Brazilian Carbon Market Guilherme Fagundes
|
|
|
- Branden Phillips
- 5 years ago
- Views:
Transcription
1 The Brazilian Carbon Market Guilherme Fagundes march/2006 1
2 Top 10 Futures Exchanges Top 10 Futures Exchanges Rank 1 st Exchange Chicago Mercantile Exchange (CME) Traded Contracts January thru October ,211,764 2 nd Eurex Deutchland (EUREX) 657,313,617 3 rd Chicago Board of Trade (CBOT) 472,506,695 4 th Euronext 286,512,078 5 th Brazilian Mercantile & Futures Exchange (BM&F) 149,320,524 6 th New York Mercantile Exchange (Nymex) 139,267,697 7 th 8 th Mercado Mexicano de Derivativos (MexDer) National Stock Exchange of India (NSE) 92,432,685 90,611,648 9 th Dalian Commodity Exchange (DCE) 77,034, th London Metal Exchange (LME) 57,910,783 Source: FIA s Monthly Volume Report 2
3 Services BM&F TRADING AND REGISTRATION SYSTEMS CLEARING SYSTEMS SETTLEMENT BANK Open outcry Electronic platforms Registration facility FX Clearinghouse Securities Clearinghouse Derivatives Clearinghouse 3
4 Products FINANCIAL DERIVATIVES OTC DERIVATIVES COMMODITY DERIVATIVES FUTURES & OPTIONS -STOCK INDEX - INTEREST RATES -EXCHANGE RATES -PRICE INDEXES - SOVEREIGN DEBT BONDS STRUCTURED PRODUCTS - VOLATILITY TRADING SWAPS - INTEREST RATES -EXCHANGE RATES -PRICE INDICES FLEXIBLE OPTIONS -STOCK INDEX -EXCHANGE RATE FUTURES & OPTIONS -CRYSTAL SUGAR - ANHYDROUS ALCOHOL* - COTTON -CATTLE -COFFEE -CORN -SOYBEAN SPOT -GOLD -US DOLAR 4
5 Brazilian Carbon Market DNA High Potential for CDM Projects DOEs Consultants/ OTC Carbon Brokers Institucional Framework Robust Financial System Sound Regulatory Framework 5
6 Carbon Market Development WHAT CAN BE DONE TO FOSTER CDM MARKET Reduce costs Search Costs Transaction Costs Mitigate Risks Project Performance Counterparty Credit Risk Increase liquidity PIN and Validated CDM Projects CER (BIDs and ASKs) 6
7 Market Development What Can be done BM&F Actions Transparent Project Pipeline Carbon Facility Regulated Liquidity Center CER Trading System Training Courses and Seminars 7
8 The BM&F Carbon Facility Web based registration system and an instrument for new business opportunities at the CDM market VI SIBILITY Validated CDM Projects CDM Project Idea Notes (PIN) Expression of Interest (to buy CERs) CRE DIBILITY Participants Registration PIN Screening Baseline Analysis Additionality test Sustainability Scale and Sectoral Scope 8
9 The BM&F Carbon Facility Business Opportu nities Projects from Latin America Electronic Match Making: PIN X Expression of Interest Low Cost Zero cost to register any information Internet 9
10 CER Trading System Start Date To be lauched mid 2006 Platforms Electronic Auctions OTC Registration System Markets Forwards Options Spot Clearing (CER) Delivery versus Payment Funds transference to settlement accounts held outside Brazil Collateral Managerial System Participants BM&F Associated Brokers Institutional Investors Carbon Brokers 10
11 CER Trading Project Markets Project Idea Notes Options on a Foward Validated CDM Projects Forwards 11
12 CDM CICLE & BM&F PIN PDD Registration at Carbon Facility Validation DNA Aproval Registration Trading at BM&F Monitoring/Certification CER emission Trading Settlement at BM&F 12
13 Conclusion BM&F Carbon Market Regional Center Fair Trades Security Easy Access Low Cost 13
14 14
UNPARALLELED OPPORTUNITIES. Two of the world s most dynamic, growing liquidity pools... now available on your existing data connection.
UNPARALLELED OPPORTUNITIES Two of the world s most dynamic, growing liquidity pools... now available on your existing data connection. CME Group and BM&F BOVESPA Removing the barriers to global market
Financial Markets & Institutions. forwards.
Financial Markets & Institutions Introduction to derivatives. Futures and forwards. Slides by Emilia Garcia-Appendini The Nature of Derivatives A derivative is an instrument whose value depends on the
September 16, :00 a.m. EST. Presented by: Will Acworth, Editor, Futures Industry. Sponsored By:
September 16, 2010 10:00 a.m. EST Presented by: Will Acworth, Editor, Futures Industry Sponsored By: Explanatory Notes The Futures Industry Association collects volume and open interest data from derivatives
Brazilian Mercantile & Futures Exchange THE BRAZILIAN MERCANTILE & FUTURES EXCHANGE
THE BRAZILIAN MERCANTILE & FUTURES EXCHANGE BM&F in a nutshell World class derivatives exchange Private not-for for-profit and self-regulatory association BM&F markets are supervised by the Brazilian Securities
Annual Trends in Futures and Options Trading Activity
Annual Trends in Futures and Options Trading Activity 2017 Volume Highlights Webinar Presenter: Will Acworth, Senior Vice President, FIA 14 February 2018 Steady State? 30 Global Futures and Options Volume
ICE Overview. SHFE Annual Conference - May 2013 Jennifer Ilkiw, VP Asia Pacific,
ICE Overview SHFE Annual Conference - May 2013 Jennifer Ilkiw, VP Asia Pacific, jennifer.ilkiw@theice.com ICE Overview IntercontinentalExchange (ICE) is a leading of global markets, clearing houses, trade
GLOBAL MARKET ACCESS, WORLD-CLASS SERVICE PRODUCTS AND SERVICES OVERVIEW
GLOBAL MARKET ACCESS, WORLD-CLASS SERVICE PRODUCTS AND SERVICES OVERVIEW 1 About PGM As an independent brokerage firm, Paragon Global Markets LLC (PGM) provides its clients with superior execution and
Marex Financial Limited: Order Execution Policy
Marex Financial Limited: Order Execution Policy January 2018 www.marexspectron.com TABLE OF CONTENTS 1. INTRODUCTION & SCOPE... 3 2. MFL DESKS... 3 3. WHEN IS BEST EXECUTION OWED... 4 3.1. Determining
First Half Trends in Futures and Options Trading Activity. Presenter: Will Acworth, Senior Vice President, FIA August 7, 2018
First Half Trends in Futures and Options Trading Activity Presenter: Will Acworth, Senior Vice President, FIA August 7, 2018 December 2017: Steady State? 30 Global Futures and Options Volume 25 Billions
INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT. Instructor: Dr. Kumail Rizvi
INVESTMENT ANALYSIS AND PORTFOLIO MANAGEMENT Instructor: Dr. Kumail Rizvi 1 DERIVATIVE MARKETS AND INSTRUMENTS 2 WHAT IS A DERIVATIVE? A derivative is an instrument whose value depends on, or is derived
Do you have what it takes to trade CME Group Product from Mexico? South to North Connectivity
Do you have what it takes to trade CME Group Product from Mexico? South to North Connectivity December 9, 2013 Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss.
GREATER SECURITY. MORE CERTAINTY. CME CLEARPORT.
GREATER SECURITY. MORE CERTAINTY. CME CLEARPORT. FLEXIBLE SOLUTIONS FOR MITIGATING YOUR RISK CME ClearPort is a comprehensive set of flexible clearing services for the global OTC market. Launched in 2002
Examples of Derivative Securities: Futures Contracts
Finance Derivative Securities Lecture 1 Introduction to Derivatives Examples of Derivative Securities: Futures Contracts Agreement made today to: Buy 5000 bushels of wheat @ US$4.50/bushel on December
WISDOMTREE RULES-BASED METHODOLOGY
WISDOMTREE RULES-BASED METHODOLOGY WisdomTree Managed Futures Index Last Updated June 206 Page of 8 WISDOMTREE RULES-BASED METHODOLOGY The WisdomTree Managed Futures Index tracks a diversified portfolio
Chapter 8-F Over-the-Counter Derivative Clearing
8F00. SCOPE OF CHAPTER Chapter 8-F Over-the-Counter Derivative Clearing This chapter sets forth the rules governing clearing and settlement of all products, instruments, and contracts in Over-The-Counter
FNCE4040 Derivatives Chapter 1
FNCE4040 Derivatives Chapter 1 Introduction The Landscape Forwards and Option Contracts What is a Derivative? A derivative is an instrument whose value depends on, or is derived from, the value of another
CME Group Overview. Rick Redding, Managing Director, Products & Services
2009 Citi Financial Services Conference CME Group Overview Rick Redding, Managing Director, Products & Services January 27, 2008 Forward-Looking Statements Statements in these materials that are not historical
Global Futures and Options Volume. Global Futures and Options Volume by Category. Global Futures and Options Volume by Region
Global Futures and Options Based on the number of contracts traded and/or cleared at 8 exchanges worldwide Jan-Oct 212 Jan-Oct 213 % Change Futures Jan-Oct 212 Jan-Oct 213 13.9% Options 7,21,95,824 6,497,83,427-7.3%
The Right Alternative: A Focus on Growth and Innovation
Filed by IntercontinentalExchange, Inc. Pursuant to Rule 425 under the Securities Act of 1933, as amended, and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934, as amended
PRODUCT INFORMATION. paddypowertrader. Contents: FUTURES INDICES
paddypowertrader PRODUCT INFORMATION Contents: 1. Indices. Interest Rate. Indices. Bond 5. Commodities 6. Currencies 7. ly Currencies. Individual Shares 9. Notes FUTURES INDICES Quoting FTSE 0:00-1:00
The landscape of risk management for commodities in India
The landscape of risk management for commodities in India Nidhi Aggarwal Finance Research Group, IGIDR Roundtable on Commodity price risk hedging: Role of banks Bombay October 13, 2015 Outline Significance
Guide to Managed Futures
Guide to Managed Futures Why Managed Futures? Potential Benefits of Managed Futures Historical Performance Managed futures have historically withstood a number of major market scenarios. In fact, over
WEEK 3 FOREIGN EXCHANGE DERIVATIVES
WEEK 3 FOREIGN EXCHANGE DERIVATIVES What is a currency derivative? >> A contract whose price is derived from the value of an underlying currency. Eg. forward/future/option contract >> Derivatives are used
CFTC Update: High-Frequency Trading, Customer Protection, & Position Limits
CFTC Update: High-Frequency Trading, Customer Protection, & Position Limits Presentation to NGFA s 42 nd Annual Country Elevator and Trade Show Dec. 9, 2013 Dan M. Berkovitz Three Recent CFTC Actions Concept
A Global Trading Summary of Interest Rate Markets
first Quarter 2011 QUARTERly INTEREST RATE Update A Global Trading Summary of Interest Rate Markets Highlights Volume Credit Spreads Deliveries Cash Market Penetration Foreign Holdings of Treasury Securities
Semi-Annual Report. December 31, 201 SILVERPEPPER COMMODITY STRATEGIES GLOBAL MACRO FUND SILVERPEPPER MERGER ARBITRAGE FUND
Semi-Annual Report SILVERPEPPER COMMODITY STRATEGIES GLOBAL MACRO FUND Institutional Class - SPCIX Advisor Class - SPCAX SILVERPEPPER MERGER ARBITRAGE FUND Institutional Class - SPAIX Advisor Class - SPABX
INDUSTRY OVERVIEW HISTORY OF THE HONG KONG SECURITIES MARKET
Certain information provided in this section is derived from various public official or government sources. The Company and the Joint Sponsors have exercised reasonable care in reproducing such information
METALS Products. Where the metals market
METALS Products Where the metals market manages risk. In a world of increasing volatility, customers around the globe rely on CME Group as their premier source for managing risk across all major asset
CME Group. Clearing 2010: A Derivatives Forum OTC Clearing Platform Panel. Tim Doar April 13, 2010 MD Risk Management
CME Group Clearing 2010: A Derivatives Forum OTC Clearing Platform Panel Tim Doar April 13, 2010 MD Risk Management CME Group Overview Largest futures exchange in the U.S. and globally by 2009 volume Strong
BOVESPA Segment. Indexes. The indexes calculated by the Exchange ended February as follows: Indexes Closing Month%
BOVESPA Segment Trading value in the equity market (BOVESPA segment) totaled BRL 165.23 billion in February, compared with BRL 144.33 billion in the previous month. Average daily trading value was BRL
CME Group 1Q 2012 Earnings Conference Call
CME Group 1Q 2012 Earnings Conference Call April 26, 2012 ForwardLooking Statements Statements in this presentation that are not historical facts are forwardlooking statements. These statements are not
Clearing Overview. Jason Silverstein, Executive Director & Associate General Counsel October 25, CME Group. All rights reserved.
Clearing Overview Jason Silverstein, Executive Director & Associate General Counsel October 25, 2016 Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures
FNCE4040 Derivatives Chapter 2
FNCE4040 Derivatives Chapter 2 Mechanics of Futures Markets Futures Contracts Available on a wide range of assets Exchange traded Specifications need to be defined: What can be delivered, Where it can
ASSOCIATION OF CERTIFIED CHARTERED ECONOMISTS. CONTINUING PROFESSIONAL DEVELOPMENT Venue: Coconut Grove Regency Hotel, Accra Date: November 26, 2011
ASSOCIATION OF CERTIFIED CHARTERED ECONOMISTS CONTINUING PROFESSIONAL DEVELOPMENT Venue: Coconut Grove Regency Hotel, Accra Date: November 26, 2011 Credit Derivatives In Emerging Markets With Respect To
Brazil s Derivatives Markets:
S E R I E informes y estudios especiales 20 Brazil s Derivatives Markets: Hedging, Central Bank Intervention and Regulation Randall Dodd Stephany Griffith-Jones Santiago, December 2007 This document has
Managing commodity price risk using derivatives
Managing commodity price risk using derivatives Nidhi Aggarwal IIM Udaipur Roundtable meeting on Institutional participation in commodity derivatives markets Bombay June 20, 2017 Outline Significance of
Volume Surges Again. 14 Futures Industry
Volume Surges Again 14 Futures Industry Global Futures and Options Trading Rises 28% in 2007 By Galen Burghardt The global volume numbers are once again astonishing. More than 15 billion futures and options
CME Group Latin American IRS Clearing
CME Group Latin American IRS Clearing Mexican Peso TIIE Swaps Brazilian Real CDI Swaps The Broadest Global IRS Product Scope with 24 Currencies Mexican Peso Swap Details CME will clear MXN IRS with the
Regulatory Landscape and Challenges
TITLE: Regulatory Landscape and Challenges AUTHOR: Adrian Orr Chief Executive EVENT PRESENTATION: September 2012 PG 2 Overview Significant regulatory and legislative reform globally: banking, insurance,
MBF1243 Derivatives. L1: Introduction
MBF1243 Derivatives L1: Introduction What is a Derivative? A derivative is a financial instrument whose value depends on (or is derived from) the value of other, more basic. Underlying variables. Very
CIRCULAR LETTER. To: BM&FBOVESPA Market Participants BOVESPA and BM&F Segments
March 31, 2016 022/2016-DP CIRCULAR LETTER To: BM&FBOVESPA Market Participants BOVESPA and BM&F Segments Re: Incentive Program for Commodity Option Contracts. BM&FBOVESPA hereby informs you that as of
Futures Perfect? Pension Investment in Futures Markets
Futures Perfect? Pension Investment in Futures Markets Mark Greenwood F.I.A. 28 September 2017 FUTURES PERFECT? applications to pensions futures vs OTC derivatives tour of futures markets 1 The futures
Global Futures and Options Volume. Global Futures and Options Volume by Category. Global Futures and Options Volume by Region
Global Futures and Options Based on the number of contracts traded and/or cleared at 8 exchanges worldwide Jan-Mar 213 Jan-Mar 214 % Change Futures 3,81,44,654 2,94,788,698-5.7% Options 2,333,35,434 2,313,497,985
R E D E F I N I N G T H E C O M M O D I T I E S M A R K E T P L A C E. Exchange Traded Commodities
R E D E F I N I N G T H E C O M M O D I T I E S M A R K E T P L A C E Exchange Traded Commodities Contents Introduction 1 What are ETCs? 2 Benefits and features 4 Who are they for? 5 How do they work?
It wasn t such a grim picture everywhere else
It wasn t such a grim picture everywhere else in the world, however. In fact, the number of futures and options contracts that traded on Asian exchanges actually rose by 24%. That s an impressive number
5,493,033 (Cost $5,492,519) (c) Net Other Assets and Liabilities 24.2%... 1,749,230 Net Assets 100.0%... $ 7,242,263
Consolidated Portfolio of Investments Principal TREASURY BILLS 75.8% Description Stated Coupon Stated Maturity $ 1,000,000 U.S. Treasury Bill (a)... (b) 10/19/17 $ 999,569 2,500,000 U.S. Treasury Bill
Chapter 1 Introduction. Options, Futures, and Other Derivatives, 8th Edition, Copyright John C. Hull
Chapter 1 Introduction 1 What is a Derivative? A derivative is an instrument whose value depends on, or is derived from, the value of another asset. Examples: futures, forwards, swaps, options, exotics
KEY CONCEPTS. Understanding Commodities
KEY CONCEPTS Understanding Commodities TABLE OF CONTENTS WHAT ARE COMMODITIES?... 3 HOW COMMODITIES ARE TRADED... 3 THE BENEFITS OF COMMODITY TRADING...5 WHO TRADES COMMODITIES?...6 TERMINOLOGY... 7 UNDERSTANDING
First Trust Global Tactical Commodity Strategy Fund (FTGC) Consolidated Portfolio of Investments September 30, 2017 (Unaudited) Stated.
Consolidated Portfolio of Investments Principal Description Stated Coupon Stated Maturity TREASURY BILLS 61.0% $ 30,000,000 U.S. Treasury Bill (a)... (b) 10/19/17 $ 29,987,055 15,000,000 U.S. Treasury
Shareholders holding more than 5% of the total shares of the company are:
Company Profile Name of Stock Exchange: B3- Brasil, Bolsa, Balcão Country/Region: South America Name of CEO: Gilson Finkelsztain Capital (US$): 11.2 bn (Bloomberg, Sep 18) Number of Officers: 5 Employees:
Agricultural Options. June 2018
Agricultural Options June 2018 CME GROUP INTERNAL Ag Option Product Suite Highlights Grain & Oilseed markets experienced large ranges in implied volatility and skew throughout June Record percent of volume
USCF Mutual Funds TRUST USCF Commodity Strategy Fund
Filed pursuant to Rule 497(e) Securities Act File No. 333-214468 Investment Company Act File No. 811-23213 USCF Mutual Funds TRUST USCF Commodity Strategy Fund Class A Shares (USCFX) and Class I Shares
Michael V. Dunn Commissioner Commodity Futures Trading Commission. Agricultural Outlook Forum February 24,
Michael V. Dunn Commissioner Commodity Futures Trading Commission Agricultural Outlook Forum February 24, 2011 1 Commodity Futures Trading Commission Mission Statement To Protect Market Users and the Public
Consolidated Schedule of Investments January 31, 2018 (Unaudited)
Consolidated Schedule of Investments January 31, 2018 (Unaudited) Interest Rate Maturity Date Principal Amount Value U.S. Treasury Securities 29.81% U.S. Treasury Bills 13.56% (a) U.S. Treasury Bills (b)
Global Futures Margin Requirement
Global Futures Margin Requirement Update:2-3-2018 Index Futures Products Exchanges Futures Trader Contract Size Initial Margin Mainteance Minimum {Electronic Trading Hours} [Outcry Trading Hours] Product
Emerging & Existing Trading Platforms
Emerging & Existing Trading Platforms Scott Hernandez Head of Sales & Trading, North America RENEWABLE ENERGY MARKETS DECEMBER 3, 2014 CTX OVERVIEW OF CTX CTX operates spot exchanges for multiple environmental
Is it time for a boneless beef trimmings derivative contract? David Farley 1 st March 2012
Is it time for a boneless beef trimmings derivative contract? David Farley 1 st March 2012 Why does AAco care? 680,000 head of cattle Substantial price risk over which AAco has limited ability to take
BM&FBOVESPA announces June market performance
BM&FBOVESPA announces June market performance Total of agribusiness securities registered with the Exchange rises from BRL 14.83 billion to BRL 19.79 billion Agribusiness derivatives total 194,465 contracts
6,479,864 (Cost $6,480,320) (c) Net Other Assets and Liabilities 26.1%... 2,286,259 Net Assets 100.0%... $ 8,766,123
Consolidated Portfolio of Investments Principal TREASURY BILLS 73.9% Description Stated Coupon Stated Maturity $ 1,000,000 U.S. Treasury Bill (a) (b) 4/12/18 $ 999,547 1,500,000 U.S. Treasury Bill (a)
Agricultural Options. March 2018
Agricultural Options March 2018 CME GROUP INTERNAL Ag Option Product Suite Highlights Implied volatility showing large ranges during the first quarter KC Wheat CSO s have a record volume month Uptick in
CME Group Latin American IRS Clearing
CME Group Latin American IRS Clearing Mexican Peso TIIE Swaps Brazilian Real CDI Swaps The Broadest Global IRS Product Scope with 21 Currencies ADV (Pesos Billion) Open Interest (Pesos Billion) Mexican
First Trust Global Tactical Commodity Strategy Fund (FTGC) Consolidated Portfolio of Investments March 31, 2018 (Unaudited) Stated.
Consolidated Portfolio of Investments Principal Description Stated Coupon Stated Maturity TREASURY BILLS 80.1% $ 48,000,000 U.S. Treasury Bill (a)... (b) 04/12/18 $ 47,978,254 10,000,000 U.S. Treasury
Monthly Agricultural Review
AGRICULTURE June 214 Monthly Agricultural Review A Global Trading Summary of Grain, Oilseed and Livestock Markets» Highlights» Futures» Options How the world advances Monthly Agricultural Review AGRICULTURAL
Trade Entry - Trade Management - Trade Exit The Best Things Come in Threes
Trade Entry - Trade Management - Trade Exit The Best Things Come in Threes Timothy Morge, CTA and President Blackthorne Capital, Inc. Sovereign Wealth Managers Internet Presentation Sponsored by Interactive
FUTURES INDUSTRY BUSINESS CONTINUITY AND DISASTER RECOVERY
FUTURES INDUSTRY BUSINESS CONTINUITY AND DISASTER RECOVERY OCTOBER 9, 2004 DR TEST RESULTS October 15, 2004 Compiled and Developed by The BACKGROUND The FIA Information Technology Division established
COMMODITY EXCHANGES IN A GLOBALIZED ECONOMY By the UNCTAD Secretariat *
UNCTAD COMMODITY EXCHANGES IN A GLOBALIZED ECONOMY By the UNCTAD Secretariat * Modern commodity exchanges date back to the trading of rice futures in the 17 th century in Osaka, Japan, although the principles
WHAT EVERY CORPORATE COUNSEL NEEDS TO KNOW ABOUT HEDGING TRANSACTIONS
WHAT EVERY CORPORATE COUNSEL NEEDS TO KNOW ABOUT HEDGING TRANSACTIONS ACC HOUSTON BACK TO SCHOOL SYMPOSIUM August 30, 2018 C. Randy King, Partner Porter Hedges LLP 1000 Main, 36 th Floor Houston, TX 77002
Order Execution Policy. Order Execution Policy Banco Santander, Page 1 S.A. of 26 All rights reserved.
Order Execution Policy 2017. Banco Santander, Page 1 S.A. of 26 All rights reserved. TABLE OF CONTENTS 1. Scope and objective... 4 2. Area of application of the Order Execution Policy... 5 2.1. General
INTRODUCTION REQUIRED DISCLOSURES AND HELPFUL INFORMATION
INTRODUCTION Nanhua USA LLC is a Futures Commission Merchant ( FCM ) registered with the Commodity Futures Trading Commission ( CFTC ) and a member of the National Futures Association ( NFA ). An FCM is
CME Bitcoin Futures The Basics
CME Bitcoin Futures The Basics January 2018 Dave Lerman Senior Director, Education CME Group David.lerman@cmegroup.com Disclaimer Neither futures trading nor swaps trading are suitable for all investors,
DEFINITIONS. ACT OR CEA The term "Act" or CEA shall mean the Commodity Exchange Act, as amended from time to time.
DEFINITIONS ACT OR CEA The term "Act" or CEA shall mean the Commodity Exchange Act, as amended from time to time. AGGREGATE BASE AVAILABLE FUNDS The sum of any remaining Base Collateral, any remaining
Annual Volume Survey. A Wild Ride. Global Futures and Options Volume Rises 13.7%, But Credit Crisis Damages Liquidity in the Core Markets
2008 A Wild Ride Global Futures and Options Volume Rises 13.7%, But Credit Crisis Damages Liquidity in the Core Markets By Galen Burghardt and Will Acworth For the global futures and options industry,
Commodities: Hedging, Regulation, and Documentation
Commodities: Hedging, Regulation, and Documentation Kathryn F. Murphy Husch Blackwell What is a Commodity? Black s Law Dictionary definition of Commodities: Goods, wares, and merchandise of any kind; movables;
Agricultural Options. November CME Group. All rights reserved.
Agricultural Options November 2018 Ag Option Product Suite Highlights Livestock spread volume on CME Globex hit an all-time high of 35%, led by verticals, 3-ways and delta-hedged options Weekly options
Global Futures Trade and Quote Data File Format Document Version 1.59
Global Futures Trade and Quote Data File Format Document Version 1.59 Global Futures Trade and Quote Data v1.59 Page 1 of 16 Table of Contents I. Trade Data... 3 A. File Layout... 3 B. Field Descriptions...
CBOT HOLDINGS INC. FORM 425 (Filing of certain prospectuses and communications in connection with business combination transactions) Filed 4/5/2007
CBOT HOLDINGS INC FORM 425 (Filing of certain prospectuses and communications in connection with business combination transactions) Filed 4/5/2007 Address 141 WEST JACKSON BLVD CHICAGO, Illinois 60604
Capitalize on the CME Group/MexDer Partnership. Trade MexDer Equity Index (IPC) Futures
Capitalize on the CME Group/MexDer Partnership Trade MexDer Equity Index (IPC) Futures Trade MexDer Equity Index (IPC) Futures Open a New Door to Opportunity with MexDer Equity Index (IPC) Futures The
Global Futures and Options Volume. Global Futures and Options Volume by Category. Global Futures and Options Volume by Region
Global Futures and Options Volume Based on the number of contracts traded and/or cleared at 84 exchanges worldwide Jan-Oct 2011 Jan-Oct 2012 % Change Futures 10,372,245,544 9,237,477,984-10.9% Options
CME Group 1Q 2017 Earnings Conference Call
CME Group 1Q 217 Earnings Conference Call April 27, 217 Forward Looking Statements Statements in this presentation that are not historical facts are forward-looking statements. These statements are not
MARGIN M ANAGER The Leading Resource for Margin Management Education
Margin Management Since 1999 MARGIN M ANAGER The Leading Resource for Margin Management Education June 2015 Learn more at MarginManager.Com INSIDE THIS ISSUE Feature Article Open Outcry Goes Dark Pg 2
VALUE AND MOMENTUM EVERYWHERE
AQR Capital Management, LLC Two Greenwich Plaza, Third Floor Greenwich, CT 06830 T: 203.742.3600 F: 203.742.3100 www.aqr.com VALUE AND MOMENTUM EVERYWHERE Clifford S. Asness AQR Capital Management, LLC
Derivative Instruments
Derivative Instruments Paris Dauphine University - Master I.E.F. (272) Autumn 2016 Jérôme MATHIS jerome.mathis@dauphine.fr (object: IEF272) http://jerome.mathis.free.fr/ief272 Slides on book: John C. Hull,
CHAPTER 3 MARKET STRUCTURE AND INSTITUTIONS
CHAPTER 3 MARKET STRUCTURE AND INSTITUTIONS Chapter Overview This chapter reviews the institutional and structural arrangements within the foreign exchange market. It begins with an examination of the
INFORMATION STATEMENT DATED MAY 24, 2011 BANK OF MONTREAL AGRICULTURE INFLATION COMMODITY DEPOSIT, SERIES 8
INFORMATION STATEMENT DATED MAY 24, 2011 This Information Statement has been prepared solely for assisting prospective purchasers in making an investment decision with respect to the Deposit Notes. This
Volatility Monitor. 3 rd Quarter 2012 OCTOBER 11, John W. Labuszewski
Volatility Monitor 3 rd Quarter 2012 OCTOBER 11, 2012 John W. Labuszewski Managing Director Research & Product Development 312-466-7469 jlab@cmegroup.com Volatility is one of several key inputs into mathematical
CME Clearing Risk Management and Financial Safeguards Brochure
CME Clearing Risk Management and Financial Safeguards Brochure CME Clearing Risk Management and Financial Safeguards CME Clearing Overview CME Clearing serves as the counterparty to every cleared transaction,
Andrew Downe. Treasury & Commodities
Andrew Downe Treasury & Commodities Staff & Customers Worldwide New York 38 London 60 Abu Dhabi 5 Vancouver 4 Shanghai 1 Seoul 15 Los Angeles 52 Houston 15 Miami 13 Sao Paulo 12 Charleston 8 Hong Kong
October 25, Dear Ms. Jurgens:
Futures Industry Association 2001 Pennsylvania Ave. NW Suite 600 Washington, DC 20006-1823 202.466.5460 202.296.3184 fax www.futuresindustry.org Via Electronic Submission Ms. Melissa Jurgens Secretary
DEMONSTRATION OF MARKET READINESS FOR CARBON OFFSET TRADING IN SOUTH AFRICA
REPORT DEMONSTRATION OF MARKET READINESS FOR CARBON OFFSET TRADING IN SOUTH AFRICA 29 JANUARY 2015 1 Page EXECUTIVE SUMMARY This report summarises the outcome of a demonstration of market readiness for
contracts 9,899,780,283 traded What has grown is the amount of business exchanges 16 Futures Industry By Galen Burghardt
9,899,780,283 contracts traded By Galen Burghardt It seems fitting to pause at the mid-point of the decade to reflect on what has happened. It s been a remarkable period for the futures and options business.
CHAPTER 8 CLEARING HOUSE AND PERFORMANCE BONDS GENERAL
800. CLEARING HOUSE 801. MANAGEMENT CHAPTER 8 CLEARING HOUSE AND PERFORMANCE BONDS GENERAL 802. PROTECTION OF CLEARING HOUSE 802.A. Default by Clearing Member or Other Participating Exchanges 802.B. Satisfaction
Fee Summary Guide. Proprietary Trading Firms
Fee Summary Guide Proprietary Trading Firms Fees effective as of February 1, 2018 Fee Summary Guide As the world s leading and most diverse derivatives marketplace, CME Group is where the world comes to
Cleared OTC Credit Default Swaps
Cleared OTC Credit Default Swaps Changing the CDS Clearing Landscape Q3 2015 Contents Why CME for CDS Clearing? CDS Margin Model & Benefits Cleared OTC CDS Product Scope Client Clearing Reporting & Tools
Market Monitor September 2012
Market Monitor September 212 Excessive drought and extreme heat in the USA dominated agricultural commodity markets activity throughout the 212 summer growing season, pushing maize and soybeans prices
Consolidated Schedule of Investments January 31, 2018 (Unaudited)
Consolidated Schedule of Investments January 31, 2018 (Unaudited) Interest Rate Maturity Date Principal Amount Value U.S. Treasury Securities 33.16% U.S. Treasury Bills 13.04% (a) U.S. Treasury Bills 1.11%
Lori Aldinger. Managing Director. Manager
STOCK INDEXES Unde ersta andin ng Equity EFRP Ps SEPTEMBER 3, 2013 John W. Labuszewski Managing Director Research & Product Development 312-466-7469 jlab@cmegroup.com Lori Aldinger Manager Research & Product
Summary of Requirements for CME, CBOT, NYMEX and COMEX Clearing Membership And OTC Derivatives Clearing Membership. April 2018
Summary of Requirements for CME, CBOT, NYMEX and COMEX Clearing Membership And OTC Derivatives Clearing Membership CME Clearing ( Clearing House ) is the clearing house division of Chicago Mercantile Exchange
CME Group to MexDer: North to South FAQ & On-boarding Reference Guide
CME Group to MexDer: North to South FAQ & On-boarding Reference Guide Updated: January 30 th, 2013 1 P a g e MexDer on CME Globex Frequently Asked Questions GENERAL 1. Who is MexDer? Mercado Mexicano de
DERIVATIVES 2007 IFSL RESEARCH. NovEMBER 2007 OVERVIEW
In partnership with: IFSL RESEARCH DERIVATIVES 2 NovEMBER 2 OVERVIEW The global derivatives industry has grown at a rapid pace throughout the past twenty years as companies, financial institutions and
Agricultural Options. September CME Group. All rights reserved.
Agricultural Options September 2018 Ag Option Product Suite Highlights Wheat complex continues to show strong volume with HRW implied volatility trading 1% higher than SRW. HRW/SRW Wheat call skew showing