A23 Anonymous_Redacted
... As an simple example, suppose it is $10 to maneuver a financial asset/instrument (buy or short) of $100-$1000…?value, but now we introduce a 10% GST, to be applied across all brokerage stocks/instruments, plus a further 25% climate levy when the financial market action is at odds with climate incent ...
... As an simple example, suppose it is $10 to maneuver a financial asset/instrument (buy or short) of $100-$1000…?value, but now we introduce a 10% GST, to be applied across all brokerage stocks/instruments, plus a further 25% climate levy when the financial market action is at odds with climate incent ...
National Institute of Securities Markets
... 3.4.4 Describe the procedure for determining the daily settlement price and final settlement price 3.4.5 Discuss the delivery aspects of interest rate derivatives contracts including conversion factor, invoice amount, cheapest-to-deliver bond 4. Strategies Using Futures 4.1 Strategies using Equity F ...
... 3.4.4 Describe the procedure for determining the daily settlement price and final settlement price 3.4.5 Discuss the delivery aspects of interest rate derivatives contracts including conversion factor, invoice amount, cheapest-to-deliver bond 4. Strategies Using Futures 4.1 Strategies using Equity F ...
Isolate Returns from Broad Market Influences
... generally are more volatile than those of larger companies and also more vulnerable than those of larger-capitalization companies to adverse economic developments. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund ...
... generally are more volatile than those of larger companies and also more vulnerable than those of larger-capitalization companies to adverse economic developments. The Fund is non-diversified and is susceptible to greater losses if a single portfolio investment declines than would a diversified fund ...
PompeuFabra Platform Oct 11 2006
... Contrast two-sided market: platform has relationship with buyer; hence, more protective of buyers' interests, less protective of sellers' interests. Key difference: P willing to constrain S, as P can (partly) recoup benefits on B side. Hence, P regulates interactions whereas it would grant S commerc ...
... Contrast two-sided market: platform has relationship with buyer; hence, more protective of buyers' interests, less protective of sellers' interests. Key difference: P willing to constrain S, as P can (partly) recoup benefits on B side. Hence, P regulates interactions whereas it would grant S commerc ...
Investments
... Resulting Equilibrium Conditions All investors will hold the same portfolio for risky assets – market portfolio. Market portfolio contains all securities and the proportion of each security is its market value as a percentage of total market value. (What would happen if this were not true?) ...
... Resulting Equilibrium Conditions All investors will hold the same portfolio for risky assets – market portfolio. Market portfolio contains all securities and the proportion of each security is its market value as a percentage of total market value. (What would happen if this were not true?) ...
THE MARKET CAPITALIZATION VALUE AS A RISK
... The formed portfolios suggest marked differences in market capitalization between the two extreme portfolios, the largest one being, on average, 98 times the smallest, during the entire 1970-81 period. Average returns for the five portfolios as well as differencial return of the extreme ones, are gi ...
... The formed portfolios suggest marked differences in market capitalization between the two extreme portfolios, the largest one being, on average, 98 times the smallest, during the entire 1970-81 period. Average returns for the five portfolios as well as differencial return of the extreme ones, are gi ...
Review of the Market Events of May 6, 2010
... A total of 47 securities were investigated in detail as these securities exhibited more than a 20% drop in price from their previous day’s closing price with most of the decline occurring between approximately 2:45 pm and 3:00 pm. All securities showed precipitous declines varying in severity. The p ...
... A total of 47 securities were investigated in detail as these securities exhibited more than a 20% drop in price from their previous day’s closing price with most of the decline occurring between approximately 2:45 pm and 3:00 pm. All securities showed precipitous declines varying in severity. The p ...
WTI-Brent spread and the value of refining firms
... The coefficient of 0.05% suggests that a 1% increase in the crack spread results in a 0.05% increase in the refiner’s share price and this is statistically significant at 5% level. Given that the crack spread is a measure of refining margin, and in turn profitability, the result is in-line with expe ...
... The coefficient of 0.05% suggests that a 1% increase in the crack spread results in a 0.05% increase in the refiner’s share price and this is statistically significant at 5% level. Given that the crack spread is a measure of refining margin, and in turn profitability, the result is in-line with expe ...
By Robert C Merton, John and Natty McArthur
... management and corporate financial decision-making. But surely the prime exemplifying case is the development, refinement and broad-based adoption of derivative securities such as futures, options, swaps and other contractual agreements. It is estimated that more than USD 500 trillion – half a quadr ...
... management and corporate financial decision-making. But surely the prime exemplifying case is the development, refinement and broad-based adoption of derivative securities such as futures, options, swaps and other contractual agreements. It is estimated that more than USD 500 trillion – half a quadr ...
Set 8 - Matt Will
... Futures contracts allow cheap entry & exit from markets Index contracts can be used to alter portfolio allocation for short periods of time Use index contracts when large outflows are expected ...
... Futures contracts allow cheap entry & exit from markets Index contracts can be used to alter portfolio allocation for short periods of time Use index contracts when large outflows are expected ...
from the full article
... balanced funds annual returns have varied between minus 12% and plus 18% over the last nearly seven years with an average after tax annual return of between five and six percent. This is a similar average return for the average KiwiSaver growth funds, only here the range of results (minus 18% to plu ...
... balanced funds annual returns have varied between minus 12% and plus 18% over the last nearly seven years with an average after tax annual return of between five and six percent. This is a similar average return for the average KiwiSaver growth funds, only here the range of results (minus 18% to plu ...
Rodger on Retirement How a capitalist invests for retirement
... my selections of what to purchase always included faith that money invested, would grow over time. Obviously, not all my investments have grown; neither have yours. Yet, when I bought stocks, I purchased them with the expectation that as the company grew their revenues and earnings, the stock price ...
... my selections of what to purchase always included faith that money invested, would grow over time. Obviously, not all my investments have grown; neither have yours. Yet, when I bought stocks, I purchased them with the expectation that as the company grew their revenues and earnings, the stock price ...
2010 Flash Crash
The May 6, 2010, Flash Crash also known as The Crash of 2:45, the 2010 Flash Crash or simply the Flash Crash, was a United States trillion-dollar stock market crash, which started at 2:32 and lasted for approximately 36 minutes. Stock indexes, such as the S&P 500, Dow Jones Industrial Average and Nasdaq 100, collapsed and rebounded very rapidly.The Dow Jones Industrial Average had its biggest intraday point drop (from the opening) up to that point, plunging 998.5 points (about 9%), most within minutes, only to recover a large part of the loss. It was also the second-largest intraday point swing (difference between intraday high and intraday low) up to that point, at 1,010.14 points. The prices of stocks, stock index futures, options and ETFs were volatile, thus trading volume spiked. A CFTC 2014 report described it as one of the most turbulent periods in the history of financial markets.On April 21, 2015, nearly five years after the incident, the U.S. Department of Justice laid ""22 criminal counts, including fraud and market manipulation"" against Navinder Singh Sarao, a trader. Among the charges included was the use of spoofing algorithms; just prior to the Flash Crash, he placed thousands of E-mini S&P 500 stock index futures contracts which he planned on canceling later. These orders amounting to about ""$200 million worth of bets that the market would fall"" were ""replaced or modified 19,000 times"" before they were canceled. Spoofing, layering and front-running are now banned.The Commodity Futures Trading Commission (CFTC) investigation concluded that Sarao ""was at least significantly responsible for the order imbalances"" in the derivatives market which affected stock markets and exacerbated the flash crash. Sarao began his alleged market manipulation in 2009 with commercially available trading software whose code he modified ""so he could rapidly place and cancel orders automatically."" Traders Magazine journalist, John Bates, argued that blaming a 36-year-old small-time trader who worked from his parents' modest stucco house in suburban west London for sparking a trillion-dollar stock market crash is a little bit like blaming lightning for starting a fire"" and that the investigation was lengthened because regulators used ""bicycles to try and catch Ferraris."" Furthermore, he concluded that by April 2015, traders can still manipulate and impact markets in spite of regulators and banks' new, improved monitoring of automated trade systems.As recently as May 2014, a CFTC report concluded that high-frequency traders ""did not cause the Flash Crash, but contributed to it by demanding immediacy ahead of other market participants.""Recent research shows that Flash Crashes are not isolated occurrences, but have occurred quite often over the past century. For instance, Irene Aldridge, the author of High-Frequency Trading: A Practical Guide to Algorithmic Strategies and Trading Systems, 2nd ed., Wiley & Sons, shows that Flash Crashes have been frequent and their causes predictable in market microstructure analysis.