Price transmission and information assymmetry in Bund futures markets: LIFFE vs. DTB

Article Abstract:

Transaction prices and bid ask patterns are collected and analyzed to compare the price transmission process and information asymmetry in the London International Financial Futures Market (LIFFE) and Deutsche Terminborse GmbH's (DTB) Bund futures markets. The Granger casualty test and empirical models were utilized to measure information asymmetry and determine the intermarket relationship between the Bund futures markets. Results show that a unidirectional lead in price transmission exists from DTB to LIFFE and that information asymmetry is higher in LIFFE.

Management, Futures market, Futures markets, London International Financial Futures Exchange, Deutsche Terminboerse GmbH

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Risk Management in Agricultural Markets: A Review

Article Abstract:

Marketing strategies to manage price and revenue risk for farm commodities are surveyed and evaluated. The author concludes that no specific advice can be formulated for farmers because there is lack of existing data and methods in the farm business, its production and utility functions, level of efficiency, yield, costs and risks involved to form a framework for evaluating choices.

United States, Agriculture, Crop Production, Agricultural industry, Evaluation, Marketing, Farmers, Farm produce, Agricultural products

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Investor Sentiment and Return Predictability in Agricultural Futures Markets

Article Abstract:

Large speculators in agricultural futures markets have no superior forecasting ability and, therefore, hedge their positions by paying risk premiums to transfer nonmarketable risks.

Singapore, Statistical Data Included, Usage, Forecasts and trends, Hedging (Finance), Pricing, Beliefs, opinions and attitudes, Investors, Commodity futures

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