Simple Tutorial on Futures Markets

Author: Li Guohua
Publisher:
Publish Date: 2003-01-01
Features: The following points in this book may be worth your attention.
1. This book provides a detailed introduction to the principle of matching transactions—the principle of double auction. Most domestic financial monographs and textbooks cover the principle of matching transactions, but detailed explanations of the principle of matching transactions—the principle of double auction—are rare.
2. Regarding futures settlement, the author has summarized a simple yet logical futures settlement operation procedure, allowing readers to easily grasp the settlement system, rules, and procedures of futures settlement.
3. For hedging and arbitrage, the author introduces both using simple mathematical models, enabling readers to more easily understand the basic principles and application methods of hedging and arbitrage.
4. The book introduces weather futures, which only emerged in 1997. Although the coverage is limited, it represents a new attempt in China. It should be noted that this book does not cover other financial derivatives such as options and swaps. Each chapter includes review questions, and there are numerous calculation problems, true/false questions, and analytical model problems at the end of relevant chapters.
The book is divided into 13 chapters, which can be grouped into two parts. From Chapter 1 to Chapter 6, plus Chapter 13, make up seven chapters, forming the main part. They constitute a complete system, providing a comprehensive, systematic, yet clear introduction to the structure, operation, and application principles of the futures market. Chapters 7 to 12 make up the second part, which includes two chapters on major traditional commodity futures contracts, three chapters on the three main varieties of financial futures—interest rate futures, stock price index futures, and foreign exchange futures—and Chapter 12 introduces weather futures, which only emerged in 1997.
The book adopts the latest international and domestic materials in its content and widely uses simple and clear mathematical models in its methodology. It can serve as a textbook for graduate students, MBA students, and senior undergraduate students in financial, trade, and economic management fields; it can also be used as a training manual for professionals in the futures industry.