Introduction: The Economics of Futures Trading

B. A. Goss and B. S. Yamey
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B. A. Goss: Monash University
B. S. Yamey: University of London

A chapter in The Economics of Futures Trading, 1976, pp 1-59 from Palgrave Macmillan

Abstract: Abstract Futures trading in an organised commodity market or exchange consists of the sale and purchase of the commodity through the medium of highly standardised futures contracts (called futures) which provide for the delivery of the defined subject-matter at defined future dates. Futures contracts are contracts which provide for the delivery of the contracted goods; but in fact in many futures markets only a small proportion of all contracts are settled by actual delivery. Hence futures markets are sometimes also referred to as paper markets; it is possible to deal in futures without ever actually seeing or handling the physical commodity.

Keywords: Actual Market; Future Market; Future Price; Maturity Basis; Price Movement (search for similar items in EconPapers)
Date: 1976
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DOI: 10.1007/978-1-349-02693-7_1

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